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Botswana’s Strategic De Beers Takeover Could Redefine Global Diamond Industry

Sorting rough diamonds over a light box using a hand loupe.
De Beers Global Sightholder Sales, Gaborone, Botswana.

Gaborone, Botswana — November 2025:
Botswana’s move to secure majority control of De Beers, the world’s most iconic diamond company, marks a turning point in both African resource ownership and the global diamond market. The initiative, driven by President Duma Boko, represents one of the most significant sovereignty shifts in modern mining history, with potential to reshape how nations manage their natural wealth.

Why Botswana’s De Beers Acquisition Matters

Diamonds remain the cornerstone of Botswana’s economy — contributing nearly 30% to GDP and 80% of export earnings. Through its long-standing Debswana partnership with De Beers, the country has benefited from steady revenues but limited control over the strategic direction of its most vital industry.

Now, Botswana aims to change that. By pursuing a majority stake, the government seeks greater influence over production, marketing, and profit allocation — a shift that could transform the balance of power in the global diamond trade.

Current Ownership and Partnership Structure

Currently, Anglo American holds 85% of De Beers, while Botswana owns 15% through Debswana. Though this structure has delivered stability and growth, it also leaves Botswana as a minority player in decisions that directly affect its economy.

With Anglo American now restructuring its portfolio and considering divestment, Botswana has seized a rare opportunity to negotiate for majority control — aligning national interest with long-term sustainability and independence.

Economic Impact and Strategic Motivation

Diamonds have built Botswana’s success story, funding education, infrastructure, and healthcare. Yet, with rising competition from lab-grown diamonds and volatile global demand, the government recognises the need to safeguard revenue and ensure future resilience.

Majority control would allow Botswana to:

Align De Beers’ strategy with national priorities
Increase direct revenue and value capture
Enhance job creation through local beneficiation
Strengthen resilience against external market shocks

Understanding the De Beers Restructuring Opportunity

Anglo American’s decision to offload assets amid global portfolio optimisation has opened the door for Botswana’s historic bid. Market analysts suggest that De Beers’ valuation — affected by softer diamond demand — may now be more accessible, creating a once-in-a-generation acquisition opportunity for Botswana.

International sovereign wealth funds, including potential partners from Oman, have expressed interest in co-financing the acquisition, signalling global confidence in Botswana’s governance and the enduring value of natural diamonds.

Regional Competition and Cooperation

Botswana’s bid faces competition from Angola’s Endiama EP, which has also expressed interest in acquiring Anglo American’s stake. However, diplomatic discussions between Botswana and Angola hint at possible collaboration, with joint African ownership of De Beers emerging as a strategic alternative that could reinforce continental resource sovereignty.

Global Diamond Market Implications

If successful, Botswana’s acquisition would mark a paradigm shift:

African Resource Sovereignty: Establishing Botswana as a model for other resource-rich nations pursuing local ownership.
Supply Chain Control: Enhancing Africa’s ability to influence global pricing, production, and distribution strategies.
Market Stability: Strengthening natural diamond positioning against synthetic competitors through unified African leadership.

With potential to contribute over 35% to Botswana’s GDP and maintain its dominance in global exports, majority ownership could significantly enhance the nation’s economic resilience and international influence.

Challenges and Market Outlook

The acquisition faces hurdles, including valuation complexities, competitive bidding, and global demand fluctuations. Moreover, the diamond industry continues to navigate pressures from lab-grown alternatives, changing consumer preferences, and macroeconomic uncertainties.

Nevertheless, Botswana’s strategy demonstrates forward-thinking leadership — leveraging its expertise, governance stability, and long-term vision to secure sustainable control over its most valuable resource.

President Duma Boko’s Vision

“Government will leverage a majority stake. Concrete steps are under way towards the acquisition of Anglo American shares in De Beers,”
— President Duma Boko, addressing Parliament, November 2025

His statement underscores Botswana’s commitment to advancing economic independence while setting a precedent for African nations reclaiming control of their mineral wealth.

What This Means for the Future

Should Botswana succeed, it will become the first African nation to hold majority ownership of the world’s largest diamond company — a move that could redefine the global diamond landscape for decades to come.

Beyond national pride, this transition represents a strategic realignment of power, giving Botswana direct control over pricing, marketing, and supply chain dynamics in the international diamond market.

Frequently Asked Questions

When will the Botswana De Beers deal be finalised?
Negotiations are ongoing through late 2025. Completion depends on final agreements with Anglo American and potential co-investors.

How much will Botswana pay for majority control?
Financial details remain confidential, with valuations influenced by current market conditions and strategic negotiations.

Will this affect global diamond prices?
Yes — greater African control over supply could strengthen natural diamond pricing and reinforce consumer confidence in ethically sourced stones.

About DCLA

The Diamond Certification Laboratory of Australia (DCLA) is Australia’s official CIBJO-recognised laboratory, providing independent grading, authentication, and certification of natural diamonds. DCLA continues to report on global developments shaping the natural diamond industry, ensuring transparency and consumer confidence worldwide.

Disclaimer: This article is intended for informational and educational purposes only. The views and interpretations expressed do not necessarily reflect those of the Diamond Certification Laboratory of Australia (DCLA). All information is based on publicly available data and current market reports at the time of publication. DCLA does not provide financial, investment, or legal advice. Readers are encouraged to conduct their own research or consult with qualified professionals before making decisions related to diamond investment, trading, or acquisition.

‘Mellon Blue’ Diamond Expected to Fetch Up to $30 Million at Geneva Auction

Geneva’s prestigious November auction season is set to dazzle the world once again, with the spotlight firmly on one of the rarest gems ever to appear on the market the 9.51-carat “Mellon Blue” diamond. This exceptional Fancy Vivid Blue diamond, expected to sell for between US$20 million and US$30 million, will take centre stage at Christie’s Magnificent Jewels Auction on 11 November.

The “Mellon Blue” was once part of the private collection of Rachel “Bunny” Mellon, the American philanthropist, horticulturist, and style icon whose refined taste defined 20th-century elegance. The pear-shaped gem exemplifies the extraordinary rarity and beauty of natural blue diamonds, a category that represents less than 0.02% of all diamonds mined worldwide. Its vivid saturation, flawless symmetry, and provenance place it among the most significant blue diamonds ever graded.

According to diamond experts, Fancy Vivid Blue diamonds of this size and clarity are virtually never seen at auction. Certified by the Gemological Institute of America (GIA), the Mellon Blue ranks alongside legendary stones such as the Oppenheimer Blue and De Beers Blue, both of which achieved record-breaking prices exceeding US$50 million.

Following Christie’s event, Sotheby’s Geneva will host its own major sale featuring the 10-carat “Glowing Rose” pink diamond and a selection of historic royal jewels once owned by Napoleon Bonaparte. Together, these back-to-back auctions reaffirm Geneva’s status as the global epicentre of fine jewellery and rare diamond sales.

The Diamond Certification Laboratory of Australia (DCLA) notes that the increasing global demand for coloured diamonds, particularly blue and pink stones, continues to drive record prices across international auctions. With limited supply and strong interest from collectors and investors alike, these rare gems remain among the most secure and sought-after assets in the luxury market.

For more updates on the world’s most important diamond discoveries, auctions, and grading insights, visit DCLA News — Australia’s trusted source for verified diamond information and international market trends.

Legendary 137-Carat Florentine Diamond of the Habsburgs Rediscovered in Canadian Bank Vault After a Century

The world of fine jewellery is abuzz with the remarkable discovery of the legendary “Florentine” diamond a 137-carat yellow pear-shaped gem once belonging to the imperial Habsburg family of Austria-Hungary. After more than a century of mystery, the fabled diamond has resurfaced, astonishing historians and gem experts alike.

According to reports in international media, descendants of Emperor Charles I and Empress Zita revealed that the diamond had been safely stored in a Canadian bank vault for 100 years, fulfilling a century-long vow of secrecy made by the late Empress. The revelation ends decades of speculation surrounding one of the most famous missing royal jewels in history.

A Jewel of Remarkable Provenance

The Florentine diamond’s story stretches back centuries. Believed to have once belonged to the Medici family of Florence, the stone later became part of the Habsburg crown jewels. Some historians suggest the gem was originally cut for Charles the Bold, Duke of Burgundy, before finding its way to the Habsburg treasury.

The diamond vanished in the aftermath of World War I, when Emperor Charles I fled Vienna following the collapse of the Austro-Hungarian Empire. Many assumed the gem was lost or stolen during the family’s exile, adding to its mythical reputation and inspiring numerous books, films, and conspiracy theories.

Hidden Under Royal Secrecy

New accounts from Habsburg descendants reveal that the diamond was never lost. When the family sought refuge in Canada during World War II, they secretly transferred the Florentine along with other royal jewels to a bank vault, acting on Empress Zita’s orders. Only her sons, Archdukes Robert and Rodolphe, were informed of its location, bound by her request for confidentiality until 100 years after Charles I’s death in 1922.

With the vow now fulfilled, Karl Habsburg-Lothringen, grandson of Emperor Charles I, alongside his cousins Lorenz and Simeon von Habsburg, have confirmed the diamond’s existence and plan to exhibit the gem publicly in Canada as a gesture of gratitude to the country that sheltered their family.

A Treasure Reborn

The 137-carat golden-yellow diamond, renowned for its striking pear shape and exceptional size, is considered one of history’s most significant gemstones. Its rediscovery resolves one of the great mysteries of the 20th century, marking an extraordinary moment in the history of royal jewels.

The news follows renewed global fascination with high-profile jewel thefts including the recent Louvre robbery, where thieves made headlines by stealing crown jewels from the Apollo Gallery using a truck-mounted cherry picker.

With the Florentine diamond’s reappearance, the world’s attention once again turns to the enduring allure of legendary gems and the fascinating histories they carry a reminder of the importance of certification, provenance, and preservation in the world of fine diamonds.

Verified Provenance and Diamond Expertise

The reemergence of the Florentine diamond highlights the crucial importance of authentic certification and traceable provenance in the world of rare and historical gems. As the official CIBJO laboratory for Australia, the Diamond Certification Laboratory of Australia (DCLA) upholds these same principles ensuring every diamond’s identity, quality, and history are verified through independent, internationally recognised grading standards.

From modern treasures to legendary jewels of royal heritage, DCLA remains Australia’s trusted authority in diamond certification, valuation, and provenance verification, preserving the integrity of the world’s most extraordinary stones.

Sotheby’s Geneva Showcases Exceptional Provenance and Record-Breaking Natural Diamonds

Each November, Geneva takes centre stage in the world of fine jewellery, and Sotheby’s 2025 High Jewellery and Royal & Noble Jewels sales reaffirm why the city remains its beating heart. This year’s auctions bring together a breathtaking display of natural diamonds, historical heirlooms, and masterful craftsmanship that celebrate centuries of artistry and provenance.

At the forefront of the Sotheby’s High Jewellery Sale is The Glowing Rose, an extraordinary 10.08-carat Fancy Vivid Pink diamond estimated at around USD 20 million. Its rare, “pure pink” hue—free from secondary tones—places it among the most valuable gemstones in existence. Comparable to celebrated stones such as the Williamson Pink Star and Pink Legacy, this exceptional diamond embodies the geological miracle of atomic distortion, which gives natural pink diamonds their ethereal glow. Stones of this size and purity are exceedingly rare, making The Glowing Rose the undeniable star of the season.

Colour remains the hallmark of this year’s Geneva sale. A pair of Fancy Vivid Yellow diamond earrings, weighing 38.66 and 38.88 carats, are expected to achieve between CHF 2,000,000 and CHF 3,800,000. Their radiant colour intensity and impressive carat weight represent the highest standards of fancy diamond grading. Equally captivating is a 4.50-carat Fancy Vivid Blue diamond, internally flawless and estimated at CHF 4,400,000 to CHF 5,800,000. The blue hue, caused by trace boron, adds to its rarity and appeal, offering collectors the coveted trifecta of exceptional colour, clarity, and size.

Among the coloured gemstones, a 7.69-carat “Royal Blue” Kashmir sapphire set in a ring-pendant combination by Van Cleef & Arpels is a standout. Revered for their velvety “sleepy” lustre, Kashmir sapphires are among the most desirable in the world, and this piece exemplifies the pinnacle of gemological beauty. Further artistry is showcased through a pair of sapphire, tsavorite garnet, and diamond earclips by JAR—vividly imaginative and estimated at CHF 300,000 to CHF 500,000—reflecting the contemporary genius of Joel Arthur Rosenthal.

The sale also includes signature creations by Van Cleef & Arpels, Cartier, Graff, and De Grisogono. Highlights include a 10.04-carat marquise-shaped D-colour diamond ring by Graff (VVS2 clarity, estimated CHF 320,000–560,000) and a De Grisogono ruby and diamond bombé ring featuring two step-cut diamonds (estimated CHF 55,000–75,000).

In tribute to a century of Art Deco design, Sotheby’s presents an array of geometric masterpieces from Cartier and Van Cleef & Arpels, embodying the symmetry and elegance that shaped modern jewellery aesthetics. Two private collections will also headline the event: one dedicated exclusively to Van Cleef & Arpels, and another—Aria of Jewels: The Collection of Antje-Katrin Kühnemann—featuring exceptional Cartier and De Grisogono pieces from the late philanthropist’s private trove.

The Royal & Noble Jewels: A Journey Through History

Complementing the High Jewellery Sale, Sotheby’s Royal & Noble Jewels auction unveils some of the most historically significant diamonds and heirlooms ever offered. Among them is a diamond brooch once owned by Emperor Napoleon Bonaparte, lost during his flight after Waterloo and later recovered by the Prussian Royal family. After more than two centuries in private hands, it now re-emerges for the first time at auction.

Also featured is a light pink diamond ring with royal lineage, once belonging to Empress Catherine I of Russia and later to Princess Neslishah Sultan, estimated between CHF 240,000 and CHF 400,000. A natural pearl and diamond jewel formerly owned by Cunegonde of Saxony (cousin of Louis XVI) carries an estimate of CHF 340,000 to CHF 500,000, while a diamond tiara with a wild roses motif from the Duchess of Portland (1774–1844) is expected to fetch CHF 100,000 to CHF 170,000.

Adding to the grandeur is a Cartier emerald and diamond necklace featuring an 11.78-carat Colombian emerald, commissioned in 1932, exemplifying Art Deco refinement and royal provenance.

Celebrating Provenance, Craftsmanship, and Natural Rarity

From Napoleon’s lost brooch to The Glowing Rose, Sotheby’s Geneva continues to highlight how exceptional gems transcend beauty—they embody heritage, artistry, and history. These November 2025 auctions remind the world that in fine jewellery, rarity, provenance, and craftsmanship remain the ultimate symbols of enduring value.

About DCLA
The Diamond Certification Laboratory of Australia (DCLA) is the official CIBJO-accredited laboratory for Australia, recognised for its expertise in diamond grading and certification. DCLA continues to support transparency and integrity within the global diamond trade, celebrating events such as Sotheby’s Geneva that showcase the brilliance and authenticity of natural diamonds.

Rockefeller Kashmir Sapphire could Fetch $2.5m

The Rockefeller Kashmir, an Art Deco ring that belonged to the late John D. Rockefeller 3rd and his wife Blanchette, is to appear in a sale of the couple’s vast art collection.

The Cartier features a 17.66-carat cushion faceted base pyramidal sugarloaf cabochon sapphire, with diamonds and carries a $1.5m to $2.5m estimate.

The ring was created around 1925 and has been in the Rockefeller family for three generations.

John D. Rockefeller 3rd inherited billions of dollars from the family’s Standard Oil empire, and was a prominent philanthropist.

The ring will be auctioned at Christie’s New York at the Magnificent Jewels event, during their December Luxury Week, on 10 December.

The collection of Asian art, jewelry, major American paintings and other heirlooms, was held by the couple’s daughter Sandra Ferry Rockefeller, who died in October 2024, aged 89.

Some of the sale proceeds will benefit her youth empowerment foundation.

Source: IDEX

31-Carat ‘Desert Rose’ Diamond Expected to Fetch $7 Million at Abu Dhabi Auction

Sotheby’s is set to showcase one of the world’s rarest diamonds during its upcoming series of luxury auctions and exhibitions in Abu Dhabi, held from 2 to 5 December at The St. Regis Saadiyat Island Resort. The events form part of Abu Dhabi Collectors’ Week, which will feature masterclasses, panel discussions, and curated exhibitions highlighting fine jewellery, timepieces, collector cars, luxury real estate, and other exceptional assets.

The highlight of the auction is “The Desert Rose”, a 31.86-carat fancy vivid orangy-pink diamond, the largest of its kind ever graded. This extraordinary pear-shaped gem—first unveiled in Sotheby’s “Beyond: The World’s Rarest Diamonds” exhibition earlier this year—makes its auction debut with an estimated value of USD $5–$7 million.

The timing of the event coincides with one of Abu Dhabi’s busiest weeks, which includes the Formula 1 Grand Prix, the Milken Institute Middle East and Africa Summit 2025, Abu Dhabi Finance Week, and Bitcoin MENA. Together, these prestigious gatherings are expected to attract a global audience of collectors, investors, and cultural leaders.

Following Sotheby’s successful inaugural sale in Saudi Arabia earlier this year, the Abu Dhabi auctions further underscore the Middle East’s growing influence in the global luxury and cultural landscape. Saadiyat Island, home to institutions such as the Louvre Abu Dhabi, the forthcoming Guggenheim Abu Dhabi, and the Zayed National Museum, continues to establish itself as a world-class destination for art and high-value collectibles.

The Desert Rose diamond’s debut marks a milestone in coloured diamond history—its rarity, hue, and size exemplify the exceptional standards that define the world’s most coveted gems.

— DCLA News Team

Five More Arrests over Louvre Heist

Five more suspects were arrested on Wednesday night (29 October) in connection with the Louvre heist.

One is believed to be a member of the four-man team that carried out the raid, who was identified through DNA evidence and seen on CCTV footage.

The two suspects arrested earlier (on 25 October) have “partially admitted” their involvement in the crime, according to French investigators.

Napoleonic crown jewels valued at over $100m were stolen on Sunday 19 October just as the museum, in Paris, was opening to visitors.

The thieves used mechanical ladder to reach a second-floor balcony, cut through the display cases with power tools, then escaped on motorbikes.

Laure Beccuau, the public prosecutor in Paris, said there was currently no evidence to suggest the theft was an inside job. None of the those arrested worked at the museum.

The four-man gang who carried out the raid left behind a motorbike helmet which provided a crucial hair sample believed to be linked to one of the suspects, together with multiple DNA samples.

The Louvre, the most-visited museum in the world, has since moved the remaining crown jewels to a vault at the Bank of France.

Source: IDEX

De Beers Rough Sales Triple in Q3

De Beers sold $700m worth of rough diamonds across its two sights in the three months to 30 September – more than tripling the $213m recorded during the same period last year.

In the third quarter of 2024, the company held only one sight, having cancelled the August session due to weak demand.

During the Q3 2025 sights, specific assortments were offered at discounted prices. De Beers no longer provides sight by sight updates.

It noted that trading conditions “continued to be challenging,” although consumer demand for natural diamond jewelry remained broadly stable, particularly in the US.

The company said progress seen in the first half of 2025 was hindered by newly imposed US tariffs on diamond imports from India, according to its production report published on 28 October.

However, it welcomed the recent exemption granted for natural diamond imports from countries participating in “aligned partner” trade agreements, announced last month.

Meanwhile, quarterly production increased year-on-year by 38 per cent, to 7.7m carats, although it is down 5 per cent for the year to date (17.9m carats).

Production guidance for 2025 is unchanged at 20 to 23m carats.

Source: IDEX

Alrosa to Extract Gold as Byproduct of Diamond Mining

Alrosa to Extract Gold as Byproduct Mirny, in Russia's Sakha Republic.

Alrosa plans to extract gold from its diamond-bearing alluvial deposits in Mirny, in Russia’s Sakha Republic.

The move comes as demand for natural diamond continues to slide, and gold prices reach record highs.

Alrosa, Russia’s state-controlled miner, announced on Friday (24 October) that it was “considering extracting gold as a byproduct during diamond mining at the Mirny-Nyurba Mining and Processing Division”.

Gold was first found in the area in 2020 and Alrosa says a team of geologists has so far recovered 433kg of it.

The proposal is that gold will be recovered as a byproduct from diamond-bearing sands and placer deposits (accumulations of valuable minerals) in the Mirny area. Alrosa will use existing processing facilities.

In 2024, the company bought the Degdekan gold deposit in the Magadan region – in a notable departure from its core activity of diamond mining.

It said it would invest over $100m in the project, which is expected to produce about 3.3 tonnes of gold annually when it reaches full capacity around 2030.

Source: IDEX

Post-Tariff Slump in US Imports of Swiss Watches

Swiss watch exports to the US plunged by more than 55 per cent in September, in what the Federation of the Swiss Watch Industry Exports (FHS) described as a “huge correction”.

Foreign sales surged in the weeks before the US introduced a 39 per cent tariff on Swiss imports on 7 August, as manufacturers front-loaded shipments.

Since then exports to the US have slumped, down by 23.9 per cent in August and now by 55.6 per cent in September.

“Without this expected but nonetheless extraordinary development, Swiss watch exports would have grown by 7.8%,” the FHS said in its latest update.

Hong Kong and China both saw a marked reversal of fortunes, from double-digit declines in August to double-digit increases in September. But that wasn’t enough to outweigh the US plunge.

Total Swiss watch exports fell by 3.1 per cent during the month to CHF 2.0bn (USD 2.5bn). The UK became the single biggest buyer, with imports up 15 per cent to CHF 173m ($218m), an 8.7 per cent market share.

The overall decline took cumulative exports for the first nine months of the year to CHF 19.0bn (USD23.9bn), an overall decline of 1.2 per cent.

Source: IDEX