Industry News by Nemesis

Botswana Diamonds Faces Asset Challenge

August 1, 2018

 

A South African company is claiming rights to portions of Botswana Diamonds’ Mooikloof project. 

“Despite [Botswana Diamonds associate Vutomi] obtaining a fully notarized and registered prospecting right on Mooikloof from the South African Department of Mineral Resources [DMR], a local company claims they have a mining permit over 5 hectares of property,” John Teeling, Botswana Diamonds’ CEO, said Tuesday. 

Botswana Diamonds received a prospecting license for the asset in June. However, the local group claims to have a mining permit, a short-term license designed for small-scale mining. South African legislation does not allow two different companies to own the rights to one mining asset. 

The miner is dealing with the DMR in an attempt to resolve the matter, it said. 

Additionally, Vutomi has received prospecting rights over three kimberlites at the Palmietgat asset in the Limpopo Province, near Petra Diamonds’ Cullinan mine.

 

Source: Rapaport

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