African Diamonds progress with AK6
by Jo Black
Diamond exploration company, African Diamonds Plc, confirmed that it remains on target to bring its AK6 diamond mine into operation by the end of next year.
Chairman of African Diamonds, John Teeling, said the AK6 diamond mine in Botswana is the jewel in our crown. The final step prior to construction, the mining license, is at an advanced stage of negotiation. Teeling added that the capital cost is fully funded at no dilution to shareholders.
A mining license was submitted for the AK6 kimberlite, which is located in the Orapa area of Botswana, at the end of the third quarter of 2007. African Diamonds expects that the mine will treat 2.7M tones per annum of kimberlite in its first full year of production and 4.2M tons per annum in 2012. The company has reported that approval from the regulatory authorities concerning water, power, land and social matters have already been received.
Story link: African Diamonds progress with AK6
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