Sekaka additionally had a not too long ago constructed, fit-for-purpose bulk sampling plant on web site. The sampling plant consists of crushing, scrubbing, dense media separation circuits and X-ray restoration modules inside a secured space.
The acquisition consists of an intensive database, constructed up over 15 years of exploration.
Botswana Diamonds believes the knowledge contained within the database will present substantial assist to its future kimberlite exploration actions within the mining-dependent nation, the world’s second-largest diamond producer.
“We’re delighted that this acquisition has now closed. This paves the way in which to discover industrial improvement choices for KX36 and start to guage the intensive database along side ours to find extra kimberlites in prime diamond actual property,” chairperson John Teeling said in the statement.
Diamond exports from the southern African nation dropped 42% to $1.49 billion within the first 9 months of this yr as manufacturing fell 29% to 12.three million carats as a consequence of covid-related restrictions.
Botswana’s mining sector gives a fifth of the nation’s GDP and 80% of its international alternate earnings.
Petra Diamonds, the previous proprietor of Sekaka, has been struggling for over two years. Its weak monetary place pushed it to shed non-core property and put itself up on the market in June.
The corporate reversed the decision in October, opting as a substitute for a debt-for-equity restructuring. The deal would go away present shareholders with simply 9% of the corporate.
Petra can be dealing with allegations of human rights abuses at its Williamson mine in Tanzania, ensuing from the actions of its safety guards.
It not too long ago reported a 36% fall in revenue and a net loss of $223 million (168.7 million kilos) for the yr ended June 30, because the coronavirus pandemic deepened the corporate’s monetary woes.