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Namakwa Diamonds in Talks for Credit Line, Sunday Times Reports

Namakwa Diamonds Ltd. (NAD), which owns Africa’s largest undeveloped diamond mine, is in discussions with its lender to reinstate a $30 million credit line, the Sunday Times reported, without saying how it obtained the information.

Namakwa has had informal takeover approaches, the newspaper said. Gem Diamonds Ltd. is among companies that might make an offer for Namakwa, the Times said, citing unidentified bankers.

To contact the reporter on this story: Ben Martin in London at bmartin38@bloomberg.net

To contact the editor responsible for this story: Paul Armstrong at Parmstrong10@bloomberg.net

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