Advertisement
UK markets closed

  • FTSE 100

    7,816.47
    -149.06 (-1.87%)
     

  • FTSE 250

    19,368.03
    -330.86 (-1.68%)
     

  • AIM

    740.18
    -10.10 (-1.35%)
     

  • GBP/EUR

    1.1703
    -0.0008 (-0.07%)
     

  • GBP/USD

    1.2434
    -0.0013 (-0.10%)
     

  • Bitcoin GBP

    49,865.08
    -1,964.44 (-3.79%)
     

  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     

  • S&P 500

    5,059.80
    -2.02 (-0.04%)
     

  • DOW

    37,875.29
    +140.18 (+0.37%)
     

  • CRUDE OIL

    85.53
    +0.12 (+0.14%)
     

  • GOLD FUTURES

    2,399.30
    +16.30 (+0.68%)
     

  • NIKKEI 225

    38,471.20
    -761.60 (-1.94%)
     

  • HANG SENG

    16,248.97
    -351.49 (-2.12%)
     

  • DAX

    17,746.76
    -279.82 (-1.55%)
     

  • CAC 40

    7,922.40
    -122.71 (-1.53%)
     
Money:

How to avoid tax creep in retirement

The state pension went up 8.5% in April, but frozen thresholds mean pensioners will be paying more tax

Anglo's unit De Beers sells 50 pct stake in Botswana coal mine

Reuters - UK Focus

GABORONE, June 10 (Reuters) - De Beers will sell its 50 percent stake in Botswana's sole coal mine to the government as part of a plan by the diamond producer's parent company Anglo American to whittle down its commodities portfolio.

The CEO of Minerals Development Company of Botswana (MDCB) Paul Smith said on Friday that the diamond producer's stake will be transferred to the newly formed MDCB, but declined to reveal the price of the stake.

De Beers' holds the stake in Morupule Coal Mine (MCM (Other OTC: MMOR - news) ) through Debswana Diamond Mining Company, a joint venture with the government of Botswana.

The mine produces 3.2 million tonnes of coal a year.

Anglo shut its Mmamabula coalfields in Botswana this year, in line with a plan by the London-listed firm to sell off certain assets but retain diamond producer De Beers, platinum and its copper units. (Writing by Zandi Shabalala; Editing by James Macharia)