Kimberley Diamonds restarts Botswana Lerala mine
Kimberley Diamonds Limited (ASX:KDL) is going ahead with the re-commissioning of its Lerala Diamond project in Botswana, which was placed on care and maintenance in July 2012 by former owner Mantle Diamonds.
The Australian miner said it plans to spend $15 million to restart the operation, with work is expected to begin in the first half of 2015.
The company’s board also decided to defer the development of its Ellendale mine, after failing to secure a price increase from one of its largest customers.
Meanwhile it will continue to focus on Lerala, which is expected to produce 400,000 carats of diamonds per year once it reaches full capacity.
Last month the International Monetary Fund (IMF) said Botswana’s economy grew at a faster pace in 2013 thanks to an improved performance of its mining sector, driven mainly by a rebound in diamond exports.
The world’s largest diamond mine in terms of total value produced annually, De Beers’ Orapa, is located in Botswana.
More News
USA Rare Earth merges with Inflection Point, debuts on NASDAQ
The company spent several years privately working to tap the Round Top are earth deposit in west Texas, with ambitious plans to create a domestic supply chain.
March 14, 2025 | 02:04 pm
First Quantum’s Cobre Panama mine ready to suspend arbitration
Panama government will allow the export of 120,000 metric tons of copper concentrate that has been stuck in the shuttered mine for over two years and allow restart of the power plant used to run the mine.
March 14, 2025 | 12:31 pm
{{ commodity.name }}
{{ post.title }}
{{ post.excerpt }}
{{ post.date }}
Comments
Nikunj Mordiya
damond job