Who Will Own De Beers? We May Know Soon

By Rob Bates | June 15, 2026

While we continue to wonder who will buy De Beers, the company’s CEO, Al Cook, says the industry will be “excited” by the new owner—even though he won’t say who it is.

Anglo American set April 16 as the initial bid deadline for its 85% share of the company. In the nearly two months since then, there’s been little word on who will control the diamond giant.

At last month’s JCK Las Vegas show, Cook said during a House of Botswana presentation that the new buyer will likely be a group of “countries that produce diamonds, or companies that love and understand diamonds.…

“I wish today, quite frankly, sitting onstage, that we could announce who the new buyer is,” he said. “Because I am really, really excited by it. It’s been two years since we announced we are separating from Anglo American.

“I know that everyone here wants to know who the new buyer is. But I know that when you do find out who the new buyer is, you’ll be as excited as I am. It is very positive for the diamond industry. The new buyers are coming in because they love natural diamonds.”

He later told JCK: “I’m delighted that all the potential commercial buyers are deeply invested in, expert in, and passionate about diamonds.… I do understand that uncertainty is the enemy of business success, so the sooner we can bring certainty, the better.”

He declined to put a timetable on when the sale will close. “I’m optimistic that in the very near future, we’ll see some positives,” he said.

Cook confirmed reports that Namibia, Botswana, and Angola—three significant diamond producers who all brought large delegations to the JCK show—have all expressed interest in purchasing part of De Beers.

A report last week in The Namibian suggested that that country’s government was considering paying 3 billion Namibian dollars (about $181 million) to gain a stake in the company. It also noted that some of the country’s economists consider purchasing a stake in De Beers a bad idea, considering the company’s current state. “You don’t buy a dead horse,” economist Omu Kakujaha-Matundu told the newspaper. (A government spokesperson said the matter was still “under consideration.”)

Botswana is De Beers’ primary partner, contributing around 75% of its production. Its economy is also heavily dependent on diamonds, which account for a third of the country’s Gross Domestic Product.

Botswana president Duma Boko has made no secret that he wants to increase its current 15% stake in the company. He recently told Bloomberg that he hopes that the sovereign wealth funds of two oil-rich Gulf nations—Oman and the United Arab Emirates—will help finance the purchase.

“We are looking at reliable, trusted partners,” Boko said to Bloomberg. “The Omanis and the UAE have now claimed that spot.”

Former De Beers CEO Gareth Penny and Nir Livnat, executive chairman of the Diacore Group (formerly known as Steinmetz Diamond Group), are both said to be heading consortia bidding for the company. Australian mining mogul Michael O’Keefe was also reportedly interested; however, some take his bid less seriously now that the Canadian diamond mine he controls, Ekati, has filed for insolvency protection.

De Beers CEO Al Cook and Botswana’s minister of minerals and energy, Bogolo Joy Kenewendo (photo courtesy of the government of the Republic of Botswana)