De Beers Looking for Kimberley Mines Buyer

(INDEX Online News) – De Beers has announced its intention to place the Kimberley Mines Tailings operation on the market. The move comes in an attempt to extend the mines’ operating life beyond 2018.The company says that no further capital investment, other than stay-in business capital, would be required to run the mine. It added that the life of the mine could potentially be extended until 2030, by utilizing more efficient and lower cost processing methods.

“It is encouraging that...Kimberley Mines may not have to close in the near future, said Phillip Barton, CEO De Beers Consolidated Mines. “We are liaising with directly affected stakeholders outlining feasible options to extend the potential of the mine and its assets. We are engaging fully with employees, union representatives, and with government at national and other levels…The asset has a superb team of managers and operators, and we are keen to offer the mine as a going concern to facilitate a greater degree of job security.”

The Kimberley mines produced 722,000 carats in 2014 and De Beers holds a new order mining right to them, which expires in 2040.