Advertisement
UK markets close in 7 hours 41 minutes

  • FTSE 100

    8,123.97
    +45.11 (+0.56%)
     

  • FTSE 250

    19,726.08
    +124.10 (+0.63%)
     

  • AIM

    755.54
    +2.42 (+0.32%)
     

  • GBP/EUR

    1.1657
    +0.0000 (+0.00%)
     

  • GBP/USD

    1.2508
    -0.0003 (-0.03%)
     

  • Bitcoin GBP

    51,440.88
    +331.43 (+0.65%)
     

  • CMC Crypto 200

    1,391.43
    -5.10 (-0.37%)
     

  • S&P 500

    5,048.42
    -23.21 (-0.46%)
     

  • DOW

    38,085.80
    -375.12 (-0.98%)
     

  • CRUDE OIL

    84.05
    +0.48 (+0.57%)
     

  • GOLD FUTURES

    2,356.00
    +13.50 (+0.58%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • HANG SENG

    17,639.54
    +355.00 (+2.05%)
     

  • DAX

    18,009.49
    +92.21 (+0.51%)
     

  • CAC 40

    8,034.95
    +18.30 (+0.23%)
     
PROPERTY:

9 luxury homes to consider if money is no object

Ever thought about what a multimillion pound budget would buy you?

De Beers puts Kimberley diamond mine in South Africa up for sale

Reuters - UK Focus

May 21 (Reuters) - Diamond miner De Beers Group said it was putting its Kimberley Mines in South Africa up for sale as the operation no longer fits the company's strategic plan.

De Beers said it hoped to conclude the sale process "in a matter of months". (http://bit.ly/1dmJkxU)

The company, which has been mining at Kimberley for more than a century, said it had invested in the mine to 2018 and that the new owners would need only stay-in-business capital, potentially extending life of the mine to 2030.

De Beers, Anglo American Plc (LSE: AAL.L - news) 's second-most profitable unit, produced 722,000 carats of diamonds at Kimberley in 2014. (http://bit.ly/1HwyMJ9)

Anglo American said last month that it planned to cut diamond production this year in response to lower prices, as diamond demand has slowed since late 2014 due to middlemen who buy rough stones struggling with a stronger dollar and liquidity problems. (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Simon Jennings)