Johann Rupert's Richemont may join the bid for De Beers
The Cartier owner is in talks to join a consortium led by a former De Beers chief. Botswana, which owns 15%, has the right of first refusal.
Olanrewaju Adewole
PANM — Richemont, the Swiss luxury group controlled by the South African billionaire Johann Rupert, is reported to be in talks to join a consortium bidding for the diamond miner De Beers, Nairametrics reports, citing Reuters.
The bid
- The Global Diamond Consortium, led by the former De Beers chief executive Gareth Penny, is bidding for Anglo American's 85% stake in De Beers, in a deal reported to be worth about $1 billion.
- Richemont, which owns Cartier and Van Cleef & Arpels, would gain more control over its diamond supply. Talks are continuing and its participation is not certain.
- The Belgian diamond manufacturer Pluczenik has confirmed interest, and the US jeweller Signet is reported to be in discussions.
African stakes
- The Government of Botswana owns 15% of De Beers and has the right of first refusal over the sale. Last year Botswana announced plans to take a controlling stake, with President Duma Boko calling it important to the country's economic sovereignty.
- Angola bid last year for a minority stake, proposing ownership shared among Botswana, Namibia, South Africa and Angola.
- De Beers mines and explores in Botswana, Namibia, Angola, South Africa and Canada.
De Beers has reported losses since 2023, with an underlying operating loss of $787 million on revenue of nearly $3.5 billion in 2025, as diamond prices fall and lab-grown stones compete.
Source: Nairametrics, reporting by Deborah Dan-Awoh, 15 October 2026.
