GABORONE, Botswana (AP) — Botswana’s president said Monday that the diamond-rich southern African country will double its stake in De Beers to 30% under a proposed deal by a consortium of investors to buy Anglo American’s shares in the company.

President Duma Boko said in a speech in Parliament that the move would make Botswana the largest single shareholder in De Beers, the world’s leading diamond company. Boko said Botswana endorsed the Global Diamond Consortium of investors as the proposed buyer of De Beers.

Mining giant Anglo American put its 85% stake in De Beers up for sale in 2024 as part of a broader restructuring focused on minerals expected to boom from the transition to green energy and a downturn in the diamond market.…