Botswana paper says De Beers’ struggling Canada mines forced Oppenheimers to sell

Botswana Guardian argues the canny Oppenheimers seem to be getting out of the diamond business because its future looks bleak. De Beers is currently in financial straits occasioned by its underperforming mines – Snap Lake and Victor Mines – in northern Canada where costs are extremely high writes the paper.

Botswana Guardian quotes a highly placed source with understanding of the agreement: “Signing is one thing, implementation is another. After all we are better with Anglo. It is better to do business with a company than a family, a family has sentimental attachments.”

Continue reading at Botswana Guardian.