Namibia’s cabinet has voted on a proposal for the country to take a stake in De Beers, according to a report in the Namibian Sun.
The newspaper said Namibia was interested in acquiring as much as 10% to 15% of the company, possibly in a consortium with Angola and Botswana, which have both expressed interest in owning De Beers. Previously, Namibian officials seemed skittish about whether to join them.
“We are interested, but there remain concerns about our financial capacity to afford a stake,” an unnamed official told the Sun. “We are talking to Angola and Botswana to join forces”. All three countries recognize that none of them alone can secure a significant share.
Image : A diamond mining operation in Namibia (photo courtesy of Namdeb)
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Source : JCK Online