Govt buys De Beers out of Morupule Coal Mine

Friday, June 10, 2016

Government is taking over full ownership of Morupule Coal Mine (MCM) before transferring the shares in the country’s sole coal miner to the new Minerals Development Company of Botswana (MDCB).

Debswana currently owns MCM with government holding 50% while the remainder belongs to De Beers.

Responding to BusinessWeek enquiries, MDCB CEO Paul Smith said the proposed three-stage transaction involves the unbundling of Debswana’s shareholding in MCM.

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