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De Beers to Divest Stake in Botswanan Coal Mine

Jun 14, 2016 8:47 AM   By Rapaport News
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RAPAPORT... De Beers will sell to the government its 50 percent stake in Botswana’s only coal mine as the miner’s parent Anglo American prunes its commodities portfolio, Reuters reported.

The diamond producer's stake will be transferred to the newly formed Minerals Development Company of Botswana (MDCB), the MDCB’s chief executive officer said, declining to reveal the price of the stake, according to the news report.

De Beers holds the stake in Morupule Coal Mine through Debswana Diamond Mining Company, a joint venture with the government. The mine produces 3.2 million tonnes of coal a year, Reuters said.
Tags: Anglo American, Botswna, coal, coal mines, De Beers, Debswana, Debswana Diamond Mining Company, ming, Morupule Coal Mine, Rapaport News
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