Botswana Diamonds and Vast Resources JV Plans to Revive Ghaghoo Mine

Mining and Exploration
24/08/2021 07:33

Botswana Diamonds PLC and Vast Resources PLC have announced a joint venture (Okwa Diamonds) has acquired – pending regulatory approval – Gem Diamonds’ mothballed Gaghoo diamond mine, a 10.8ha mining area in central Botswana, fo US$4m. James Campbell, MD at Botswana Diamonds commented: “Working with our joint venture partner VAST, we have completed thorough due diligence on Ghaghoo. We believer there are significant opportunities to bimprove Ghaghoo’s operating and financial performance through both the application of new and optimization of existing technologies along with a strongly recovering diamond market.” The new joint venture hopes to reach a return to name plate capacity of 1.25m tonnes yearly, he added.