REG - Anglo American PLC - De Beers and Botswana sign diamond partnership

Anglo AmericanAnnouncement

25/02/2025 13:45

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RNS Number : 3971Y  Anglo American PLC  25 February 2025

 25 February 2025
 De Beers and Botswana sign diamond partnership for the next generation

Anglo American announces that De Beers Group ("De Beers") and the Government
of the Republic of Botswana (the "Government of Botswana") have signed the
formal new agreements for a 10-year Sales Agreement (which may be extended by
a further 5 years) and a 25-year extension of the Mining Licences (from 2029
through to 2054) for Debswana. Debswana operates the Jwaneng and Orapa diamond
mines in Botswana and is a 50:50 joint venture between De Beers and the
Government of Botswana.

 

Duncan Wanblad, Chief Executive of Anglo American, congratulated both De Beers
and the Government of Botswana, saying: "We are delighted that this
extraordinary diamond partnership is secured for decades to come, affirming De
Beers' leadership position and providing reassurance across the entire diamond
value chain. These agreements provide long term stability for both partners as
they work together to support the rough diamond market's recovery from a
period of challenging trading conditions. The certainty provided also forms a
critical step towards De Beers' next chapter as an independent company and as
the world's most iconic diamond business."

 

The agreements are aligned with the Heads of Terms that were agreed between De
Beers and the Government of Botswana in September 2023.

 

 

 

 

 

 

 

 

 

 

 

 

 

For further information, please contact:

 

 Media                                                                            Investors

 UK                                                                               UK

 James Wyatt-Tilby                                                                Tyler Broda

 james.wyatt-tilby@angloamerican.com                                              tyler.broda@angloamerican.com
 (mailto:james.wyatt-tilby@angloamerican.com)

                                                                                Tel: +44 (0)20 7968 1470
 Tel: +44 (0)20 7968 8759

                                                                                Michelle West-Russell
 Marcelo Esquivel

                                                                                michelle.west-russell@angloamerican.com
 marcelo.esquivel@angloamerican.com                                               (mailto:michelle.west-russell@angloamerican.com)

 Tel: +44 (0)20 7968 8891                                                         Tel: +44 (0)20 7968 1494

 Rebecca Meeson-Frizelle                                                          Asanda Malimba

 rebecca.meeson-frizelle@angloamerican.com                                        asanda.malimba@angloamerican.com (mailto:asanda.malimba@angloamerican.com)
 (mailto:rebecca.meeson-frizelle@angloamerican.com)

                                                                                Tel: +44 (0)20 7968 8480
 Tel: + 44 (0)20 7968 1374

 South Africa

 Nevashnee Naicker

 nevashnee.naicker@angloamerican.com

 Tel: +27 (0)11 638 3189

 Ernest Mulibana

 ernest.mulibana@angloamerican.com (mailto:ernest.mulibana@angloamerican.com)

 Tel: +27 (0)82 263 7372

 

Notes:

Anglo American is a leading global mining company focused on the responsible
production of copper, premium iron ore and crop nutrients - future-enabling
products that are essential for decarbonising the global economy, improving
living standards, and food security. Our portfolio of world-class operations
and outstanding resource endowments offers value-accretive growth potential
across all three businesses, positioning us to deliver into structurally
attractive major demand growth trends.

 

Our integrated approach to sustainability and innovation drives our
decision-making across the value chain, from how we discover new resources to
how we mine, process, move and market our products to our customers - safely,
efficiently and responsibly. Our Sustainable Mining Plan commits us to a
series of stretching goals over different time horizons to ensure we
contribute to a healthy environment, create thriving communities and build
trust as a corporate leader. We work together with our business partners and
diverse stakeholders to unlock enduring value from precious natural resources
for our shareholders and for the benefit of the communities and countries in
which we operate, for society as a whole. Anglo American is re-imagining
mining to improve people's lives.

 

Anglo American is currently implementing a number of major structural changes
to unlock the inherent value in its portfolio. This portfolio transformation
includes selling our steelmaking coal and nickel businesses, while also
demerging our PGMs business (Anglo American Platinum), and our iconic diamond
business (De Beers) to focus on our world-class resource asset base in copper,
premium iron ore and crop nutrients.

 

www.angloamerican.com (http://www.angloamerican.com)

 

 

 

 

Group terminology

In this document, references to "Anglo American", the "Anglo American Group",
the "Group", "we", "us", and "our" are to refer to either Anglo American plc
and its subsidiaries and/or those who work for them generally, or where it is
not necessary to refer to a particular entity, entities or persons. The use of
those generic terms herein is for convenience only, and is in no way
indicative of how the Anglo American Group or any entity within it is
structured, managed or controlled. Anglo American subsidiaries, and their
management, are responsible for their own day-to-day operations, including but
not limited to securing and maintaining all relevant licences and permits,
operational adaptation and implementation of Group policies, management,
training and any applicable local grievance mechanisms. Anglo American
produces group-wide policies and procedures to ensure best uniform practices
and standardisation across the Anglo American Group but is not responsible for
the day to day implementation of such policies. Such policies and procedures
constitute prescribed minimum standards only. Group operating subsidiaries are
responsible for adapting those policies and procedures to reflect local
conditions where appropriate, and for implementation, oversight and monitoring
within their specific businesses.

 

Disclaimer

This document is for information purposes only and does not constitute, nor is
to be construed as, an offer to sell or the recommendation, solicitation,
inducement or offer to buy, subscribe for or sell shares in Anglo American or
any other securities by Anglo American or any other party. Further, it should
not be treated as giving investment, legal, accounting, regulatory, taxation
or other advice and has no regard to the specific investment or other
objectives, financial situation or particular needs of any recipient.

 

Forward-looking statements and third party information

This document includes forward-looking statements. All statements other than
statements of historical facts included in this document, including, without
limitation, those regarding Anglo American's financial position, business,
acquisition and divestment strategy, dividend policy, plans and objectives of
management for future operations, prospects and projects (including
development plans and objectives relating to Anglo American's products,
production forecasts and Ore Reserve and Mineral Resource positions) and
sustainability performance related (including environmental, social and
governance) goals, ambitions, targets, visions, milestones and aspirations,
are forward-looking statements. By their nature, such forward-looking
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of Anglo
American or industry results to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements.

 

Such forward-looking statements are based on numerous assumptions regarding
Anglo American's present and future business strategies and the environment in
which Anglo American will operate in the future. Important factors that could
cause Anglo American's actual results, performance or achievements to differ
materially from those in the forward-looking statements include, among others,
levels of actual production during any period, levels of global demand and
product prices, unanticipated downturns in business relationships with
customers or their purchases from Anglo American, mineral resource exploration
and project development capabilities and delivery, recovery rates and other
operational capabilities, safety, health or environmental incidents, the
effects of global pandemics and outbreaks of infectious diseases, the impact
of attacks from third parties on our information systems, natural catastrophes
or adverse geological conditions, climate change and extreme weather events,
the outcome of litigation or regulatory proceedings, the availability of
mining and processing equipment, the ability to obtain key inputs in a timely
manner, the ability to produce and transport products profitably, the
availability of necessary infrastructure (including transportation) services,
the development, efficacy and adoption of new or competing technology,
challenges in realising resource estimates or discovering new economic
mineralisation, the impact of foreign currency exchange rates on market prices
and operating costs, the availability of sufficient credit, liquidity and
counterparty risks, the effects of inflation, terrorism, war, conflict,
political or civil unrest, uncertainty, tensions and disputes and economic and
financial conditions around the world, evolving societal and stakeholder
requirements and expectations, shortages of skilled employees, unexpected
difficulties relating to acquisitions or divestitures, competitive pressures
and the actions of competitors, activities by courts, regulators and
governmental authorities such as in relation to permitting or forcing closure
of mines and ceasing of operations or maintenance of Anglo American's assets
and changes in taxation or safety, health, environmental or other types of
regulation in the countries where Anglo American operates, conflicts over land
and resource ownership rights and such other risk factors identified in Anglo
American's most recent Annual Report. Forward-looking statements should,
therefore, be construed in light of such risk factors and undue reliance
should not be placed on forward-looking statements. These forward-looking
statements speak only as of the date of this document. Anglo American
expressly disclaims any obligation or undertaking (except as required by
applicable law, the City Code on Takeovers and Mergers, the UK Listing Rules,
the Disclosure Guidance and Transparency Rules of the Financial Conduct
Authority, the Listings Requirements of the securities exchange of the JSE
Limited in South Africa, the SIX Swiss Exchange, the Botswana Stock Exchange
and the Namibian Stock Exchange and any other applicable regulations) to
release publicly any updates or revisions to any forward-looking statement
contained herein to reflect any change in Anglo American's expectations with
regard thereto or any change in events, conditions or circumstances on which
any such statement is based.

 

Nothing in this document should be interpreted to mean that future earnings
per share of Anglo American will necessarily match or exceed its historical
published earnings per share. Certain statistical and other information
included in this document is sourced from third party sources (including, but
not limited to, externally conducted studies and trials). As such it has not
been independently verified and presents the views of those third parties, but
may not necessarily correspond to the views held by Anglo American and Anglo
American expressly disclaims any responsibility for, or liability in respect
of, such information.

©Anglo American Services (UK) Ltd 2025.  (TM) and (TM) are trademarks of
Anglo American Services (UK) Ltd.

 

 

Legal Entity Identifier: 549300S9XF92D1X8ME43

 

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