Botswana Diamonds gets closer to full Sekaka acquisition

BOTSWANA – Diamond mining company Botswana Diamonds has announced that all the conditions precedent for the acquisition of Sekaka Diamonds, as previously announced on 20th July 2020, have now been satisfied. Sekaka’s Prospecting License which holds the KX36 high-grade kimberlite pipe has also been extended for a further two years to 30th September 2022. “We are grateful to the Botswana Authorities for the quick approval of our acquisition of the KX36 discovery, the extension of the licence and the award of two surrounding licences,” John Teeling, chairman of Botswana Diamonds…

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Petra Diamonds to dispose its assets in Botswana to reduce its debt

BOTSWANA – Petra Diamonds Limited, owner of the South African mine, has announced that it has entered into an agreement to dispose of its exploration assets in Botswana due to debt increment. Petra is set to dispose 100% of its holding in Sekaka Diamonds Exploration Limited to Botswana Diamonds PLC for a total consideration of US$300,000 and a 5% royalty on future diamond revenues should any of the prospects within the exploration licenses be brought into production. The assets of Sekaka Diamonds include the Company’s three existing Prospecting Licenses in…

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