Anglo American paid $5.1 billion for 85% of De Beers in 2012. They are selling that same stake for $3 to $4 billion. The book value collapsed 75% in three years. The business lost over $500 million last year. They are not selling because they extracted everything. They are selling to fund copper. Anglo is merging with Teck Resources to become one of the five largest copper producers on earth. They found a better orchard. Who is buying? Botswana wants majority control. Angola wants 20 to 30%. There is even a proposal for a full pan-African consortium across the four countries where De Beers actually mines. For the first time in 137 years, the people whose soil these diamonds come from may own the company that sells them. #GlobalArbitrage #Geopolitics #AfricanMarkets #DeBeers #Diamonds