Joint Venture in Botswana

RNS Number : 9344L

Botswana Diamonds PLC

19 August 2013

 



19 August 2013

Botswana Diamonds plc ("Botswana Diamonds" or the "Company")

Joint Venture in Botswana

The board of Botswana Diamonds, the AIM listed diamond explorer (AIM: BOD), is pleased to announce that an agreement to explore in Botswana has been signed by Atlas Minerals (Pty) Ltd (Botswana), a wholly owned subsidiary of Botswana Diamonds, and by Sunland Holdings SA (Switzerland) a wholly owned subsidiary of OJSC "Alrosa" of Russia. Alrosa is the world's largest rough diamond producer by volume  with 17 producing mines and a highly successful exploration record.  The unique exploration technology developed by Alrosa will be applied in Botswana for the first time.

The agreement requires equal contributions from each party.  The joint venture will utilise and merge the exploration technology available to Sunland with the on ground expertise and extensive diamond database held by Botswana Diamonds.

Applications have been lodged for licences in the Orapa region.  The first ground has been obtained and work is expected to commence in Q3 2013.  The initial budget is $1 million.

John Teeling, Chairman, commented "We are delighted with this agreement.  This is good news for Botswana Diamonds - and for Botswana itself.  We have already been working together for over 18 months on selecting the best ground in the Orapa and Gope areas of Botswana and we have multiple targets.  More diamond deposits remain to be discovered in Botswana.  The unique technologies being brought to bear on the Kalahari sands improves the chances of success."

Enquiries:

Botswana Diamonds PLC
John Teeling, Chairman	[phone]
Robert Bouquet, Director	+ 32 477 228851
Westhouse Securities Limited
Richard Baty	[phone]
Keith Bayley Rogers & Co. Limited
Niall Pearson	[phone]
Hugh Oram	[phone]
African Alliance Botswana Securities
Kabelo Mohohlo	[phone]
Oratile Leburu	[phone]
Blythe Weigh Communications	[phone]
Tim Blythe	[phone]
Halimah Hussain	[phone]
Eleanor Parry	[phone]
Pembroke Communications
Natalie Tennyson	[phone]
Alan  Tyrrell	[phone]

www.botswanadiamonds.co.uk

 

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