<a href="http://blog.biggstock.com/wp-content/uploads/2010/08/debeers_logo.bmp"><img class="alignleft size-full wp-image-1242" title="debeers_logo" src="http://blog.biggstock.com/wp-content/uploads/2010/08/debeers_logo.bmp" alt="De Beers" /></a>De  Beers has announced that it had received approaches from potential  investors interested in purchasing Namaqualand Mines and Finsch Mine in  the Northern Cape. The interest comes on the back of the continuing  recovery in the diamond market.

To assess these expressions of interest appropriately, De Beers will  undertake a systematic review process that will include evaluating the  offers received from companies with good mining track records, and  strong empowerment credentials. In addition interested parties will have  to satisfy many other economic, social and environmental criteria when  formulating their submissions.

The Acting CEO of De Beers Consolidated Mines (DBCM), Barend Petersen  stated; "We have had approaches from companies interested in discussing  the future of Namaqualand Mines and Finsch Mine in the Northern Cape. De  Beers has decided to invite separate expressions of interest in each  mine through a select tender process".

It is expected that the process will take a number of months to reach a  conclusion - extending at least well into 2011.  Production at Finsch  will continue as planned, while economic development and environmental  rehabilitation projects will continue at Namaqualand Mines where  production was temporarily suspended in April 2010.

Barend Petersen concluded: "Should  attractive offers be forthcoming the  introduction of a new investor at Finsch, with its significant  underground resources, and at Namaqualand, with its alluvial reserves,  will impact positively on the Northern Cape and extend the life of the  mines into the next decade at least".

Ref: <a href="http://www.gjepc.org/news/view.aspx?NewsId=7767" target="_blank">GJEPC</a>