Dual-listed Botswana Diamonds is set to apply for a mining permit as it discovered another kimberlite from the latest drilling campaign on its Thorny River diamond project in South Africa.
“We have finished exploration and now move toward mine development,” said company chairperson John Teeling.
“We already have a good understanding of how the mine will look. The recent drilling identified the entry point for a mine. The next stage is to refine the mine model and to apply for a mining permit.”
It completed 12 reverse circulation holes leading to the finding of 52 metres of kimberlite, the largest intersection being 22 metres.
The diamond explorer also discovered two new blows that will increase the mineable resource.
Botswana Diamonds said last April that assuming mid-range diamond values of $170 per carat, mid-range mining costs, a discount rate of 10%, a recovered grade of 40 carats per hundred tonnes and 1.7 million tonnes of kimberlite mined, indicates that a mine is likely to be commercial.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
Exclusive
“We help our clients take on a future that is full of unknown challenges, yet brimming with opportunities,” says Rajesh Shah, Partner, Venus Jewel
Rajesh Shah has been a partner of Venus Jewel since joining the firm in 1985 with a deep focus on business development and sales. Working with his elder cousin Anil and his younger brother Hitesh, he has made the ongoing development of Venus Grading...
08 august 2022
“Soaring inflation, reduced disposable income, consumers’ ability to purchase will be the scenario,” warns Antonio Cecere, President, Geneva Diamond Exchange
Antonio Cecere is the Managing Director of Cecere Group which operates in the diamonds and luxury goods sector, and it includes Cecere Monaco, an alternative investment boutique firm specializing in diamonds, Regina Monte Carlo, a fashion jewellery brand...
01 august 2022
Botswana leads in providing financial incentives for diamond exploration – Campbell
Botswana, which is one of the top diamond producers in the world, continues to provide legal certainty and financial incentives for diamond exploration and mine development, according to James Campbell, the managing director of Botswana Diamonds. He...
25 july 2022
“The future of real diamonds is greater than ever” asserts Leibish Polnauer, Founder- President, Leibish & Co
Way back in the year 1979, young Leibish Polnauer, then a diamond polisher, travelled to London only to find the factory at which he worked had been shut down. But, luckily he found an advertisement from the royal crown jeweler Garrard‘s seeking a 6-carat...
04 july 2022
Diamond prices remain steady despite sanctions imposed against ALROSA -Zimnisky
Sanctions imposed against ALROSA only resulted in the smaller gem and near-gem quality goods outperforming other categories in recent months, according to an independent diamond analyst Paul Zimnisky. He told Rough&Polished’s Mathew Nyaungwa in an exclusive...
27 june 2022
