African Diamonds meets with govt`s approval for mining

source: Mmegi
WANETSHA MOSINYI
Staff Writer

African Diamonds has announced that it is only waiting for a mining licence for Boteti Exploration after receiving a letter from the Ministry of Minerals, Energy and Water Resources stating that its application for a licence at AK6 meets the requirements of section 51 of the Mines and Minerals Act.

The diamond explorer, which is listed on both the BSE and AIM, is part of the AK6 Boteti joint venture in which African Diamonds holds 49 percent and De Beers 51 percent. The company said the government issued the letter and outlined conditions on which it would like to award the mining licence.

The shareholders of Boteti anticipate that final negotiations will be concluded in sufficient time to enable AK6 to be in production by the end of 2009. “We believe that we have the full backing of De Beers and the government of Botswana to move this world-class project towards production and look forward to concluding negotiations as soon as [continue reading]