De Beers sees SAfrica mines sale taking until 2011

JOHANNESBURG, Aug 2 (Reuters) - De Beers, the world's biggest diamond producer, expects expressions of interest from potential buyers of its two South African mines in a few weeks, but may only finalise the sales in 2011, it said on Monday.

De Beers spokesman Tom Tweedy said the company would take several months to complete the processes to sell the Namaqualand and Finsch diamond mines from the time the company receives non-binding offers from prospective buyers to the conclusion of a due diligence and a final agreement.

He would not give details on the number of companies interested in the two mines.

'The first stage of the process is underway and we expect the expressions of interest back in the next few weeks. We expect this process will continue for many months and well into 2011,' Tweedy told Reuters.

'In this period the company continues to manage the operations.'

He said the company would look at the financial and technical capabilities, including black empowerment plans of prospective buyers before short-listing companies interested to purchase the two assets.

De Beers is 45 percent owned by mining group Anglo American , 40 percent by South Africa's Oppenheimer family and 15 percent by the Botswana government.

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