Namibia not affected by De Beers separation plans in RSA

Erasmus Shalihaxwe

De Beers Group Chief Executive Officer Al Cook said Anglo American’s announcement regarding its intention to explore a range of options to separate De Beers’ business will not affect its operations in Namibia and other countries.

Cook announced this on Tuesday after Anglo American announced the demerging of its interests from De Beers.

Cook said that De Beers Group remains fully focused on delivering its strategy and creating value in the interests of all its stakeholders.

“De Beers has led the diamond industry for more than a century. We have unparalleled expertise, outstanding assets across more than 20 countries, a unique sales model, and an iconic brand synonymous with diamonds. I am confident that we will remain the diamond leaders for the next century,’’ he said.

He also stated that Anglo American is opening up new possibilities under new ownership.

He said the company will continue delivering value for all its stakeholders, including its partners in Botswana, South Africa, Namibia, Canada, Angola, and other countries.

“In particular, we look forward to finalising our transformational agreement with the Government of the Republic of Botswana, which holds a 15% ownership interest in De Beers. Later this month, we will present the new strategy for De Beers.

Diamonds remain some of the most desired products around the world, and I am excited by the opportunity we have to bring their magic to a new generation. With the ongoing recovery in rough diamond demand and such a positive outlook for the sector, I feel very confident in our future,” said Cook.

South African media reported that Anglo American’s plan to sell De Beers is to fend off a £34 billion takeover plot, a second unsolicited offer from an Australian miner, BHP.

De Beers is 85% owned by Anglo American.

De Beers has a 50/50 joint venture agreement with the Namibian government in Namibia. through Namdeb Holdings.

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