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Botswana Diamond Mine Up for Auction
May 1, 2018 7:05 AM
By Rapaport News
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RAPAPORT... The liquidators of Kimberley Diamonds’ Lerala mine in Botswana will offer the
project at an online auction later this month after
failing to secure viable bids.
Kimberley placed its Lerala subsidiary into judiciary
management — a restructuring option for insolvent companies — in June last year
due to a lack of funding, media reports said at the time. Lerala produced about
59,000 carats in the year leading up to its closure, falling short of its
annual target of 357,000 carats over a seven-year lifespan, according to
Bloomberg.
GoIndustry DoveBid, which will run the auction, listed the
available assets as five kimberlite pipes ranging from 0.16 hectares to 2.35
hectares and a 200-tonnes-per-hour processing plant. The sale will also feature a
primary jaw-crusher, X-ray recovery equipment and a diesel generator plant. Bidders must
pay a $508,000 (BWP 5 million) deposit. The online sale will run from May 24 through
May 30.
Sydney-based Kimberley Diamonds also owned the Ellendale
mine in Australia, which went into administration — with control of the company
passing to an outside specialist — in July 2015.
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Tags:
Bloomberg, Botswana, Ellendale mine, GoIndustry DoveBid, Kimberley Diamonds, Lerala mine, Rapaport News
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