Botswana Diamonds Remains Optimistic for 2023

Declaring a slight -0.09% loss on the GBX in 2022, Botswana Diamonds (BD) remains optimistic regarding their latest strategy of acquiring existing lots from former mining exploitations. This year alone the company has increased its stake to 50% in the Maibwe joint venture by acquiring a stake from the liquidator of BCL in Botswana,  and then landed an acquisition deal of the KX36 discovery from Sekaka Diamonds (a subsidiary of Petra Diamonds) which contains substantial quantities of diamonds.
“We are focused on the Kaapvaal craton in Botswana, South Africa and Zimbabwe - an area which hosts, and has hosted, many of the largest and best diamond mines in the world. Botswana has been our focus”, said John Teeling, Chairman of BD. 

“The mine had a short unsuccessful history, and we undertook a study to see if we could improve operational efficiencies and we believe that we can,” he continues.

It is estimated the KX36 discovery deposit holds up to 24 million tonnes containing up to 76 carats per hundred tonnes (chpt). Diamond value was previously estimated at $65 a carat and recent estimates are up to $97 a carat.

Botwsana Diamonds holds exploration licences surrounding KX36 where the company expects there to be additional kimberlites. They also currently hold a 26% interest in the Maibwe kimberlites to the south of KX36.

Photo Credit: Botswana Diamonds