De Beers, African Diamonds Conclude AK06 Talks
By Wanetsha Mosinyi
Boteti Exploration on Friday received a 15-year mining licence from the Botswana government for its proposed AK06 diamond project near Orapa.
De Beers (70 percent) and African Diamonds (28 percent) own Boteti Exploration.
Production is scheduled to start in April 2011, with all of Boteti’s diamond production to be sold through Diamond Trading Company Botswana (DTCB).
Statements from the Joint Venture partners said government has undertaken to supply power to the project from the national grid, and had decided not to take equity in the venture. Government had the right to buy up to a 10 percent stake in the mine.
This is the second new diamond mine in which the government has decided not to invest after it declined to buy into the Lerala mine recently opened by BSE listed junior Diamonex.
Government has also agreed to [continue reading]