Botswana seeks 30% De Beers stake for tech access
President Duma Boko says the deal offers exposure to synthetic diamond applications and AI infrastructure.
Botswana plans to increase its ownership in De Beers from 15 percent to 30 percent, a move President Duma Boko described as an investment in technology. This expanded stake aims to give the country access to synthetic diamond applications beyond traditional gemstones.
Boko stated that the increased shareholding would make Botswana the largest shareholder in De Beers, granting greater influence over its strategic direction. He highlighted Element Six, a De Beers subsidiary developing synthetic diamond technology for industrial and technological uses, as a key part of the investment case.
The President noted that demand for high-technology synthetic diamonds is expected to rise with the expansion of artificial intelligence infrastructure and data centres. He also revealed that the US government has approached Element Six for a proposed US$600 million joint facility in Georgia, potentially anchoring a technology partnership between Botswana and the United States.
Why it mattersBotswana's planned increase in De Beers ownership is positioned as a strategic investment in technology, particularly synthetic diamond applications for AI and data centres.