Botswana Diamonds (LON:BOD) Environmental Authorisation – Marsfontein Gravels

Botswana Diamonds (“BOD”), is pleased to announce its associate Vutomi (BOD interest 40%) has been granted Environmental Authorisation over a substantial portion of the residual diamond-bearing gravels produced from the very high grade Marsfontein mine, which is contiguous to our Thorny River operation.

This essential authorisation is a critical step towards obtaining a Mining Permit, which we expect to receive shortly. A Mining Permit covers an area of 5 Hectares and has a lifespan of 2-years, which is renewable.

John Teeling, Chairman, said “We believe that the mine gravels and unprocessed stockpiles around the Marsfontein mine contain commercial grades of diamonds. To secure the Mining Permit we need certain approvals. Granting of the Environmental Authorisation is a critical step. This facilitates the issuing of the Mining Permit necessary for BOD to recover and sell the diamonds. We plan to shortly commence royalty mining operations at no cost to the company.”

The very high grade of the Marsfontein mine (172 carats per hundred tonne or ‘cpht’) distracted the original miners from the gravels – though these were confirmed to be diamond-bearing through subsequent sampling.

BOD has identified potential partners to process the gravels and stockpiles. We expect mobilisation to commence within six weeks.


Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Weekly Newsletter

Sign up to receive exclusive stock market content in your inbox, once a week.

We don’t spam! Read our privacy policy for more info.