The De Beers Group is strategizing a comprehensive overhaul of its operations following Anglo America's decision to separate or sell off the diamond company.

This, according to Al Cook, Chief Executive Officer of De Beers Group, will help the business save $100 million.

In this week's edition of the Extractor Magazine, Cook stated that De Beers Group intends to leverage technology to be at the forefront and would take into account further initiatives for Namibia, Botswana, and Canada.

De Beers is a fifty percent shareholder with the Namibian government in Namdeb and Debmarine.

Following the Australian mining giant BHP's $824 billion acquisition offer, Anglo American is splitting from its diamond business partner to streamline the organisation and free up funds for shareholders.

Anglo American had also stated that they would be restructuring and simplifying their portfolio by focusing on copper and premium iron ore, which are used in electric vehicles and for steel production.

Although it has been reported that the sale of De Beers would not affect any of its operations in Namibia, there are concerns about potential sales implications.

In an interview with Business Today, Finance Minister Iipumbu Shiimi hinted that the government is closely monitoring the developments without revealing details.

Shiimi also commented on the issue of synthetic diamonds, expressing concerns about the potential risks it poses to the sale of natural diamonds and the market.

However, Shiimi noted that De Beers and partners are working hard to persuade customers about the benefits of purchasing natural diamonds.

"When you support a naturally produced diamond, you are not just buying a diamond; you are supporting communities, and they have to demonstrate the number of people they produce and the number of people they train because you won't be able to employ a large number if you are producing diamonds in a lab, and therefore you have a better narrative to tell. And I think it's incumbent upon us, especially those coming from diamond-producing countries, to tell our stories better for the world, customers, and people who buy diamonds to understand that you are impacting positively on the lives of people when buying a natural diamond."

De Beers has also announced its exit from producing lab diamonds.

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Celma Ndhikwa