It has come to De Beers’ attention that the figure put forward by African Diamonds was based upon analysis provided by the Antwerp-based diamond company, Overseas Diamonds.
Gaborone, Botswana - 30 July 2008 - Further to De Beers’ press release of July 24th with regard to the AK6 project in Botswana, the following provides further information on the claims made by African Diamonds that they could achieve substantially higher prices for the AK6 production than could be achieved by De Beers.
It has come to De Beers’ attention that the figure put forward by African Diamonds was based upon analysis provided by the Antwerp-based diamond company, Overseas Diamonds. However, Overseas Diamonds have clarified that they valued only a selection (398 carats out of 1,174 carats) of AK6 diamonds. This analysis was not representative of the full production profile of AK6 and would be misleading if used for this purpose.
Nevertheless, for the same 398 carat parcel, Overseas Diamonds and De Beers’ Diamond Trading Company have placed a similar valuation on the selection of AK6 diamonds.
Davy Lapa of Overseas Diamonds says, “Having looked at the DTC valuation I believe it is both appropriate and accurate, and I am comfortable that my valuation is correct for the carats I had been asked to value”.
Contact:
De Beers Botswana
Charmaine Muir-Revaka
Tel: +267 361 5231
Mob: +267 71321785
charmaine.revaka@debeersgroup.com
De Beers UK
Lynette Gould
Tel: +44 207 430 3509
Mob: +44 (0)7740 393260
lynette.gould@dtc.com
About De Beers
De Beers, established in 1888, is the world’s leading diamond company with unrivalled expertise in the exploration, mining and marketing of diamonds. De Beers, and its joint venture partners, operate in 25 countries across five continents employing around 20,000 people. From its mining operations across Botswana, Namibia, South Africa, Tanzania and Canada, De Beers produces and markets approximately 40 percent of the world’s supply of rough diamonds. As part of the company’s operating philosophy, the people of De Beers are committed to Living up to Diamonds by making a lasting contribution to the communities in which they live and work. De Beers encourages sustainable working to ensure long-term positive development for Africa, and returns approximately US$4.7 billion to the continent every year. For further information about De Beers visit www.debeersgroup.com.