HomeDiamonds & GemstonesAnglo may buy Oppenheimers out of De Beers

Anglo may buy Oppenheimers out of De Beers

De Beers “’ might be
purchased from the
Oppenheimer family by
Anglo-American for
R21 billion
Johannesburg, South Africa — MININGREVIEW.COM — 20 December 2010 – Mining giant Anglo American plc “’ one of the world’s largest diversified mining and natural resource groups “’ may buy the Oppenheimer family out of diamond company De Beers.

Reporting the possibility of this significant mining development here, the Sunday Times cited unidentified sources.

The stake could cost at least ₤2 billion (R21 billion), according to the report. The Oppenheimer family owns 45% of de Beers, the Sunday Times pointed out.

“Anglo American wouldn’t want to comment on speculation or rumours,” company spokesman Pranill Ramchander said when contacted by telephone by Bloomberg News in South Africa.

Established in 1888, De Beers is the world’s largest diamond producer with mining operations across Botswana, Namibia, South Africa and Canada.

The company operates in more than 20 countries across six continents employing more than
13 000 people, and produces around 40% of total world diamond production.