Over 50% of the proceeds will be used to fund clean water, electricity, school, medical facilities, bridges and roads, none of which are currently available in the village of Koryardu, where the diamond was found.
Botswana Mining News
The 709-carat rock is the second-largest ever found in the West African nation.
Sampling work at Ontevreden, part of the Vutomi joint venture, seems to prove the presence of high-grade kimberlite pipes.
Draft bill gives government first option to buy unusually large diamonds found in the country's mines, such as the world's second-biggest 1,109 carat diamond discovered by Lucara two years ago.
The company that unearthed the world's second-largest diamond but has so far failed to sell it, is mulling a partnership to sell the giant stone if a buyers is not found within the next six to eight weeks.
The Canadian diamond miner now expects to produce between 265,000 carats and 285,000 carats, compared with the previously targeted 290,000-310,000 carats.
Lucara Diamond’s Lesedi La Rona is said to face challenges other rock never do, including its multi-million-dollar price tag and a risky polishing process that can take months or years.
Vutomi licences were extended into additional area of mineralization adjacent to the firm’s Frischgewaagt project in South Africa.
The company identified a group 2 kimberlite pipe in an area known by its high-grade diamonds.
The firm, a joint venture between De Beers and the southern Africa country's government, plans to extend the lifespan of its Jwaneng mine beyond 2024.
The 373.7-carat diamond, sold during the Vancouver-based miner’s $54.8 million recent tender, was one of 15 large and high value diamonds offered by the company.
Here are the top 10 diamond mines in terms of output in carats and value.
Quarterly revenues were about half of the revenues posted in the year-ago quarter.
The Russian miner wants to recover $271 million it lost when a state-backed company failed to complete the acquisition of a 50% stake in its Nkomati mine in South Africa.
Emmanuel Momoh found the 706-carat diamond in Sierra Leone's Kono district.
Mineral explorers, government and academic researchers, and other key stakeholders from more than 35 countries have visited the public repository to access the 10 gigabytes of pre-competitive geoscience data stored online.
Khoemacau mine will initially produce 50,000 tonnes of copper and 1.4 million ounces of silver a year, but future expansions could increase output to at least 120,000 tonnes of copper annually.
The project, which has existing infrastructure, a camp and a diamond processing plant in place, is located just 5km from Letšeng, the highest dollars-per-carat kimberlite diamond mine in the world.
The company, which began exploring the area in March this year, said that specialists from its joint venture partner Alrosa are reanalyzing 80 tonnes of samples that were sent to South Africa.
Botswana withdrew its decision to buy a 50 percent stake in South Africa’s Nkomati mine from GMK Norilsk Nickel PJSC because it can’t afford the price tag of just under 3 billion pula ($279 million).
Tango Mining couldn't raise $8 million to acquire Firestone's past producing diamond mine in time.
‘Troubles in paradise’ forecast for Botswana’s sole gold miner.
The government will maintain 1.4 billion pula ($130 million) of annual spending on state-owned BCL for now.
The history of the diamond industry in Africa has been fraught with worker exploitation, environmental destruction, government corruption and squandering of revenues.
Canada's Lucara Diamond, the company that found the massive gem, said it will keep it as bids fell short of the minimum reserve price.