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Gem Diamonds Ends Talks over Mine Sale
Dec 12, 2017 3:11 AM
By Rapaport News
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RAPAPORT... Gem Diamonds has terminated discussions with a potential
buyer for its Ghaghoo mine in Botswana.
The London-based company announced in August that it was
considering an offer from an unidentified party. However, those talks did not
result in an agreement, and the proposal has been withdrawn, the company noted in
a statement Tuesday.
Gem Diamonds, which acquired Ghaghoo in 2007, decided in
February to put production there on hold because of a drop in the prices of the
deposit’s rough diamonds. The miner is still in discussions with other
potential acquirers of the asset, it added. |
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Tags:
Botswana, Gem Diamonds, Ghaghoo, london, mergers and acquisitions, mines, mining, Rapaport News
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