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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.
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Tags:
Anglo American, Botswna, coal, coal mines, De Beers, Debswana, Debswana Diamond Mining Company, ming, Morupule Coal Mine, Rapaport News
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