De Beers to sell its Kimberley Mines

SURAT: De Beers, the world's largest diamond mining company, has invited expression of interest (EOI) from the private players to conclude the sale agreement of its Kimberley Mines Tailings operations in South Africa. Reason : the company intends to explore the extension of the operating life of the diamond mine beyond 2018.
Kimberley Tailings is De Beers second largest producer in South Africa with the production in 2014 of 7,22,000 carats of rough diamonds.In the past decade or so, the mine has taken steps to sustain the operation and succeeded in maintaining production in economically challenging times.
Now, the company is scouting for an appropriate operator to extend the life of its Tailings mines operations for recovering diamonds for the another one decade.
Phillip Barton, CEO, De Beers Consolidated Mines said, "We are liaising directly with affected stakeholders outlining feasible options to extend the potential life of the mine and its assets"
The company hopes to close the EOI phase, and conclude a sales agreement, in a matter of months.