De Beers, a unit of Anglo American has announced plans to sell its 50% stake in Morupule coal mine (MCM) in Botswana to the government.

The company’s latest move is part of a plan by Anglo American to cut down its commodities portfolio.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Reuters quoted Minerals Development Company of Botswana (MDCB) CEO Paul Smith as saying that De Beers’ stake in the mine will be transferred to company.

“With the acquisition of De Beers’ stake in MCM, the government’s ownership in the mine will be 100%.”

With the acquisition of De Beers’ stake in MCM, the government’s ownership in the mine will be 100%.

After implementation of the deal, the assets of the mine will be transferred to the newly formed MDCB.

MDCB did not disclose the price of the stake.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The stake in MCM is owned by De Beers through Debswana Diamond Mining, which is a joint venture with the Government of Botswana.

MCM, which is located on the outskirts of Palapye, Botswana, commenced production in 1973 as a subsidiary of Anglo American to supply coal to Bamangwato Concessions (BCL) and the BPC power plant in Selebi Phikwe.

The mine has the capacity to produce 3.2 million tonnes of coal per year.

This year, Anglo American closed its Mmamabula coalfields in Botswana as part of its plans to dispose certain assets.

The sale excluded De Beers platinum, as well as the company’s copper units.