PRESS: Anglo American sees De Beers sale to public-private consortium

(Alliance News) - Anglo American PLC is likely to sell De Beers to a public-private consortium, including the governments of African countries where it mines its diamonds, the chief executive of Anglo told the Financial Times.

Duncan Wanblad said Anglo hopes to complete the sale of its diamond mining and marketing subsidiary this year, despite a weak diamond market, the FT reported on Monday.

The spin-off from the diversified miner would "almost certainly" see the government of Botswana increase its stake in De Beers from its current 15%, Wanblad told the newspaper.

Angola and Namibia also have expressed in buying stakes in De Beers, with Angolan officials telling reporters the government would like to take a 20% to 30% stake, according to the FT.

By Tom Waite, Alliance News editor

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