London, Feb 9, 2026, 08:08 GMT — Regular session
- Anglo American edged up 0.3% in early London trading.
- Angola is eyeing a 20% to 30% stake in De Beers, with African producers now in talks on a coordinated strategy.
- Attention shifts to the De Beers sale, with full-year results set for Feb. 20.
Anglo American edged up 0.3% to 3,446 pence as of 0810 GMT, trading in a 3,443 to 3,481 range, after Angola announced plans to grab a 20%-30% stake in De Beers—the diamond unit Anglo’s looking to sell.
The stakes are high for Anglo, with De Beers sitting at the heart of its overhaul. A growing roster of potential buyers has the power to shift expectations—on valuation, timing, even the political calculus. Investors, for their part, want sharper answers: what stays with Anglo, what’s for sale, and how soon the proceeds will hit the books.
The region sits right in the southern African diamond belt, where governments are directly tied to production and sales. That involvement can either prop up prices or drag out any adjustment.
Angola isn’t pushing for control of De Beers, national director of mineral resources Paulo Tanganha said, calling a majority stake in luxury commodities “very dangerous because it depends on the market.” Instead, Tanganha said a 20%-30% holding would make Angola “happy.” Botswana, which currently has a 15% stake in De Beers, is still aiming for majority ownership, he noted. Mozambique
Tanganha said that Botswana, Angola, Namibia, and South Africa were still in behind-the-scenes discussions, looking for a unified approach. According to him, Angola’s state-run Endiama and diamond dealer Sodiam are set to acquire any stake, though he didn’t spell out how they’d finance it.
De Beers is on the block, with diamond prices tumbling and lab-grown gems crowding into stores—forcing miners to dial back production to keep prices from falling further. Angola moving to a lighter stake just shows how unpredictable this industry really is.
Anglo’s strategy has been to shift focus toward copper and iron ore, dropping non-core businesses along the way. Earlier this month, the company disclosed a 10% drop in 2025 copper output and trimmed its 2026 copper forecast. CEO Duncan Wanblad said Anglo remains “committed” to seeing its portfolio overhaul through, continuing to move forward with asset sales and spinoffs. Reuters
Traders are now watching to see if the government-backed offers spark a bidding war—or if Anglo can secure a structure that gives it straightforward access to its key metals. The market’s also keeping tabs on the status of the proposed merger with Teck Resources, an all-stock tie-up pitched without any takeover premium.
Still, there’s a lot that could derail things. Diamond demand is closely tied to how much consumers are willing to spend. Lab-grown production isn’t slowing down, either. And with several governments involved in the sale, expect potential delays or strings attached—any of which could eat into the headline price.
Anglo is set to report full-year numbers Feb. 20 at 0700 GMT, and investors want specifics—especially on De Beers and any new moves in the company’s overhaul plans.
