As we know by now, Anglo American wants to sell its diamond business. It appears as if some people in government would like the state to buy DeBeers from Anglo and even become a majority shareholder. That, in my view, would be unwise for a number of reasons. The first is that it is not the role of the government to run or own mining companies or any business, for that matter. The role of the government should always be to provide a supportive environment for the private sector to flourish, stimulate economic growth, and create jobs. Countries that have limited the government’s role in managing businesses have performed remarkably well.
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