De Beers set to reap £1bn cash

De Beers is set to announce a $1bn (£641m) cash injection today to recapitalise the diamond miner. Mining company Anglo American, which owns 45 per cent of De Beers, will contribute $450m, South Africa’s Oppenheimer family will add $400m and the government of Botswana will contribute $150m. The cash injection is similar to a rights issue, except that De Beers is privately owned.