19 August 2013
Botswana Diamonds plc ("Botswana Diamonds" or the "Company")
Joint Venture in Botswana
The board of Botswana Diamonds, the AIM listed diamond explorer (AIM: BOD), is pleased to announce that an agreement to explore in Botswana has been signed by Atlas Minerals (Pty) Ltd (Botswana), a wholly owned subsidiary of Botswana Diamonds, and by Sunland Holdings SA (Switzerland) a wholly owned subsidiary of OJSC "Alrosa" of Russia. Alrosa is the world's largest rough diamond producer by volume with 17 producing mines and a highly successful exploration record. The unique exploration technology developed by Alrosa will be applied in Botswana for the first time.
The agreement requires equal contributions from each party. The joint venture will utilise and merge the exploration technology available to Sunland with the on ground expertise and extensive diamond database held by Botswana Diamonds.
Applications have been lodged for licences in the Orapa region. The first ground has been obtained and work is expected to commence in Q3 2013. The initial budget is $1 million.
John Teeling, Chairman, commented "We are delighted with this agreement. This is good news for Botswana Diamonds - and for Botswana itself. We have already been working together for over 18 months on selecting the best ground in the Orapa and Gope areas of Botswana and we have multiple targets. More diamond deposits remain to be discovered in Botswana. The unique technologies being brought to bear on the Kalahari sands improves the chances of success."
Enquiries:
Botswana Diamonds PLC |
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John Teeling, Chairman |
+353 1 833 2833 |
Robert Bouquet, Director |
+ 32 477 228851 |
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Westhouse Securities Limited |
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Richard Baty |
+44 (0) 20 7601 6100 |
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Keith Bayley Rogers & Co. Limited |
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Niall Pearson |
+44 (0) 20 7156 5035 |
Hugh Oram |
+44 (0) 20 7156 5041 |
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African Alliance Botswana Securities |
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Kabelo Mohohlo |
+267 364 3954 |
Oratile Leburu |
+267 364 3977 |
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Blythe Weigh Communications |
+44 (0) 20 7138 3204 |
Tim Blythe |
+44 (0) 7816 924 626 |
Halimah Hussain |
+44 (0) 7725 978 141 |
Eleanor Parry |
+44 (0) 7551 293 620 |
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Pembroke Communications |
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Natalie Tennyson |
+353 1 649 6334 |
Alan Tyrrell |
+353 1 649 6334 |
www.botswanadiamonds.co.uk
