Botswana Diamonds (BOD), the UK-based explorer, says it is seeking joint venture opportunities to seek out new assets in Zimbabwe and South Africa in the new year.
Speaking of Zimbabwe, John Teeling, chairman of BOD, said in a trading update: “There are significant geological opportunities in the country. The objective is to find a formula, which suits all parties.”
BOD says it is liaising with the authorities in Zimbabwe, and also in South Africa, to acquire exploration assets.
“We believe that there are big opportunities for diamond exploration and development in South Africa. We are focusing on where we believe the best opportunities are available to BOD,” Teeling added.
The Thorny River venture, on which the company has spent significant time and money, is likely to finally begin production in 2023. Thorny River is a kimberlite dike system which are believed to be an extension of the Marsfontein and Klipspringer mines. Exploration has identified two deposits which between them contain up to 2m tons.
“We expect the grade to be between 46 and 74 cpht of good quality diamonds,” he concluded.
Photo Credit: BOD