Tag: Diamond mining

Gemcorp Capital and Endiama sign joint venture to develop Mulepe diamond deposit in Angola

Frank

ANGOLA – Emerging markets trade and investment group Gemcorp Capital LLP and Endiama Mining, a subsidiary of Angola’s State-owned diamond company Endiama, have entered into a joint venture (JV) agreement to develop the Mulepe diamond deposit in Lunda Norte, Angola. The Mulepe site, which contains significant kimberlite and alluvial deposits, represents a key strategic project that aims to provide important employment opportunities and unlock value in a remote region of the country. To ensure rapid development of the project, a pilot mining programme will be set up in the course…

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Diamond company Lucapa suspends operations in Lesotho

Frank

LESOTHO – Lucapa Diamond Company of Australia has announced the suspension of its mining operations at its mine in Lesotho, as the mountain kingdom imposes a two-week hard lockdown to curb the spread of Covid-19. The mining company said that it has decided to suspend operations at the Mothae kimberlite mine with appropriate care and maintenance, and security measures. Lucapa Diamond managing director Stephen Wetherall said that mining and processing operations would be restarted when the lockdown ends. “Our priority is to ensure the health and safety of our valued…

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Namib Desert Diamonds buys out Templesman in Namgem

Frank

NAMIBIA – State-owned Namib Desert Diamonds (Namdia) paid US$2 million to control a loss-making diamond manufacturing company that was co-owned by businessman Maurice Templesman. Namdia bought into Okahandja-based Namgem Diamond Manufacturing Company – despite lacking the technical capacity to run the factory and has now passed on the management of the company to an Indian entity as a technical partner. Before the acquisition, Namgem was a 50:50-owned company by the state and  Lazare Keplan International, a company owned by 91-year-old American diamond merchant Maurice Templesman. Namdia, which has in the…

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Botswana Diamonds gets closer to full Sekaka acquisition

Frank

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

Frank

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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