 | This article needs to be updated. (May 2024) |
An Australian company, DiamonEx Limited, opened a diamond mine 15 km (9 mi) north-west of the village of Lerala in Botswana. The mine initially known as Martins Drift Diamond Project opened early 2008 and was to employ 230–290 people to produce an estimated 330,000 carats (66 kg) per year. [1] [2]
History
Previously a joint company between De Beers and the Botswana government operated between 1998–2001 a smaller exploratory diamond mine at the same site. [3] In February 2009 the mine was placed under Judicial Management due to very high operational costs and the world economic crunch. The company then had to seek permission to be placed under judicial management from the High Court. DiamonEx, which had already been listed on the Botswana Stock Exchange (BSE) also had the trading of their shares suspended as a consequence. [4] In 2011, a UK based diamond company Mantle Diamonds bought the Lerala mine from DiamonEx Botswana which was in financial difficulties due to the global economic crisis. [5]
In 2014, the Lerala Mine changed ownership again after another Australian company, Kimberly Diamonds acquired Mantle Diamonds. [6] The mine started operating in August 2015. By May 2017 Lerala Diamond Mines Limited, the Botswana-based subsidiary of Kimberly Diamonds Limited, was forced to suspend operations and placed under judicial management, due to inability to fund the endeavour. [7] The mine was being closed for the third time in its history, after closures in February 2009 and also in July 2012. [8]
References
- ^ "Diamonex Limited Acquires Kimberlite Pipes In USA". ABN Newswire. Retrieved 2008-01-20.
- ^ Modikwa, Onalenna (2006-05-22). "Production To Begin On Martins Drift Next Year". Mmegi Business Week. Retrieved 2008-01-21.
- ^ "Lerala mine closes". Botswana Press Agency (BOPA). Archived from the original on 2007-06-12. Retrieved 2008-01-20.
- ^ "Doom In Lerala As DiamonEx Mine Ceases Operations". 2 February 2009.
- ^ "MANTLE DIAMONDS TAKES AIM AT RE-OPENING LERALA MINE, BSE BOARD". Sunday Standard. 27 June 2011.
- ^ "Kimberly Diamonds completes takeover of Mantle Diamonds". Mining and Travel Botswana Publication. 25 February 2014. Retrieved 4 April 2018.
- ^ "Botswana's LERALA Diamond Mines Placed Under Judicial Management". Mining and Travel Botswana Publication. 8 June 2017. Retrieved 4 April 2018.
- ^ "Kimberley Diamonds Shuts Down Another Mine - Lerala in Botswana". The Diamond Loupe. 2 June 2017. Retrieved 4 April 2018.
| This article needs to be updated. (May 2024) |
An Australian company, DiamonEx Limited, opened a diamond mine 15 km (9 mi) north-west of the village of Lerala in Botswana. The mine initially known as Martins Drift Diamond Project opened early 2008 and was to employ 230–290 people to produce an estimated 330,000 carats (66 kg) per year. [1] [2]
History
Previously a joint company between De Beers and the Botswana government operated between 1998–2001 a smaller exploratory diamond mine at the same site. [3] In February 2009 the mine was placed under Judicial Management due to very high operational costs and the world economic crunch. The company then had to seek permission to be placed under judicial management from the High Court. DiamonEx, which had already been listed on the Botswana Stock Exchange (BSE) also had the trading of their shares suspended as a consequence. [4] In 2011, a UK based diamond company Mantle Diamonds bought the Lerala mine from DiamonEx Botswana which was in financial difficulties due to the global economic crisis. [5]
In 2014, the Lerala Mine changed ownership again after another Australian company, Kimberly Diamonds acquired Mantle Diamonds. [6] The mine started operating in August 2015. By May 2017 Lerala Diamond Mines Limited, the Botswana-based subsidiary of Kimberly Diamonds Limited, was forced to suspend operations and placed under judicial management, due to inability to fund the endeavour. [7] The mine was being closed for the third time in its history, after closures in February 2009 and also in July 2012. [8]
References
- ^ "Diamonex Limited Acquires Kimberlite Pipes In USA". ABN Newswire. Retrieved 2008-01-20.
- ^ Modikwa, Onalenna (2006-05-22). "Production To Begin On Martins Drift Next Year". Mmegi Business Week. Retrieved 2008-01-21.
- ^ "Lerala mine closes". Botswana Press Agency (BOPA). Archived from the original on 2007-06-12. Retrieved 2008-01-20.
- ^ "Doom In Lerala As DiamonEx Mine Ceases Operations". 2 February 2009.
- ^ "MANTLE DIAMONDS TAKES AIM AT RE-OPENING LERALA MINE, BSE BOARD". Sunday Standard. 27 June 2011.
- ^ "Kimberly Diamonds completes takeover of Mantle Diamonds". Mining and Travel Botswana Publication. 25 February 2014. Retrieved 4 April 2018.
- ^ "Botswana's LERALA Diamond Mines Placed Under Judicial Management". Mining and Travel Botswana Publication. 8 June 2017. Retrieved 4 April 2018.
- ^ "Kimberley Diamonds Shuts Down Another Mine - Lerala in Botswana". The Diamond Loupe. 2 June 2017. Retrieved 4 April 2018.