Botswana Diamonds (LON:BOD) has bought Russian diamond miner Alrosa’s 50% stake in their Sunland Minerals joint venture (JV) and the company said it is close to bringing a new partner into the project.
In a statement, the company described the unnamed new investor as “a large diamond producer with new ideas and keen to find new kimberlites in Botswana,” adding that the potential new partner will acquire about 50% of Sunland.
Botswana Diamonds said it anticipated the fresh investor would “step into the exploration shoes of Alrosa,” the world’s top diamond producer by output, with work beginning in the first half of 2019.
Read more on: http://www.mining.com/botswana-diamonds-buys-alrosas-stake-sunland-minerals-joint-venture/