Botswana says no guarantee on De Beers deal by end-2020
The deal is necessary for the Debswana Mining Company, jointly held by De Beers and the Botswana government, as it provides the country with around two-thirds of its foreign exchange.
A leaked White House memo, which outlines the suspension of a portion of the Dodd-Frank rule on ‘conflict minerals’, will exacerbate already high levels of violence in DR Congo.
While iron ore prices have climbed 90% in the last year to over $80 a tonne, the sale of Kumba would prove prudent for Anglo's long-term outlook, given its high debt load, BMI analysts say.
Shareholders will be the main beneficiaries of the company's cautious approach to capital expenditure in the last three years as it will pay bigger-than-expected divvy of $1.70 per share.