In the struggeling mining sector of Botswana with failing commodity prices, Kimberly Diamonds Limited(ASX:KDL) moved forward to start up the diamond mine of Lerala. The Botswana industry has been under heavy strain due to low commodity prices around the world. This move from KDL will bring much needed new jobs into the region.
The Lerala diamond has stopped and started a few times in its short existance. Kimberly Diamonds Limited is a listed mining company on the Australian Stock Exchange and annouced that commencement of their mine last year. KDL bought the Lerala dimaond mine from the UK based Mantle Diamonds who stopped mining in July 2012. The mine was only working for a few months and put many people out of work.
“Basil Read is scheduled to mobilise staff and equipment to Lerala Diamond Mine during the current month of February, with mining anticipated to commence during March. The contract covers the initial five years of mining and may be extended further,” said KDL.
First diamonds to be sold as soon as June.