Major announcement expected from De Beers

The world's biggest diamond producer, De Beers, is to make an announcement this morning about a change of ownership of its South African business. According to an invitation to a news conference in Johannesburg, the announcement concerns the most significant change of ownership of De Beers Consolidated Mines since its formation in 1888. It is expected that a major black economic empowerment deal is on the cards. Mining Minister Lindiwe Hendricks is also due to attend the news conference.