AAL Anglo American Plc

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.

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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.

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Forward-looking statements and third party information

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