Diamond giant De Beers announced that it had been approached by potential investors interested in purchasing Namaqualand Mines and Finsch Mine in the Northern Cape.



The miner attributed the interest to continuing recovery in the diamond market.



According the De Beers' website, the diamond miner will now launch a systematic review process of the offers. The interested parties will have to satisfy many economic, social and environmental criteria set by De Beers when formulating their submissions.



Barend Petersen, Acting CEO of De Beers Consolidated Mines (DBCM), said that the diamond miner "has had approaches from companies interested in discussing the future of Namaqualand Mines and Finsch Mine in the Northern Cape. De Beers has decided to invite separate expressions of interest in each mine through a select tender process.”



The company said it expects the process will take several months to conclude and is likely to extend well into 2011.



Production at Finsch will continue as planned, while economic development and environmental rehabilitation projects will continue at Namaqualand Mines where production was temporarily suspended in April 2010.



“Should attractive offers be forthcoming the introduction of a new investor at Finsch, with its significant underground resources, and at Namaqualand, with its alluvial reserves, will impact positively on the Northern Cape and extend the life of the mines into the next decade at least," Petersen concluded.