Kimberley Diamonds' Botswana mine to be auctioned online

30th April 2018

By: Bloomberg

  

Font size: - +

BOTSWANA – A diamond mine in Botswana will be offered for sale at an online auction after its liquidators failed to secure viable offers.

Online bids for the Lerala Diamond Mine open at 17:00 on May 24 and run through 14:00 on May 30, according to a statement published in the weekly Monitor newspaper by the auctioneers, GoIndustry DoveBid.

Lerala, which is owned by Sydney-based Kimberley Diamonds, was placed under judicial management in June last year due to weak sales and high operating costs. Lerala produced about 59 000 ct in the year leading up to its closure, compared with a published target of 357 000 ct/y, over a seven-year lifespan.

On offer are five kimberlite pipes ranging from 0.16 ha to 2.35 ha in area, mining rights, a 200 t/h processing plant, a 4.2 MW diesel generator and other assets. Bidders are required to place a refundable deposit of 5-million pula ($509 000).

The mine has probable reserves of five-million tons at a grade of 31 carats per 100 tons and inferred resources of 10.3-million tons at 31 carats per 100 tons.

Edited by Bloomberg

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION