Botswana opts to not increase De Beers stake

The African nation of Botswana has decided to decline an option to lift its stake in the massive diamond company De Beers, said a Mineweb report on Tuesday.

“The decision by the diamond rich country leaves Anglo American to pick up the full $5.1bn tab for the buyout of the remaining shares owned by the Oppenheimer family,” says the report.

Botswana had an option to raise its stake in the diamond company to 25% but chose not to in an attempt to curb government spending.

Read the full Mineweb report here >>