Botswana Diamonds has secured a significant foothold in South Africa’s diamond mining landscape, acquiring a prospecting permit for five kimberlites in the historic Marsfontein area. The 900.67-hectare permit encompasses the renowned Marsfontein diamond mine and extends to the company’s Thorny River properties in Limpopo.
The company has set its sights on the M3 kimberlite, a promising target with a reported strike length of 100 meters and a true width of 10 meters. Previous bulk sampling revealed impressive grades ranging from 13.9 to 137 carats per hundred tonnes, with the diamonds characterized by their exceptional color, quality, and size distribution.
M3’s strategic location on elevated ground and its history of extensive benching offer significant advantages for mining operations. This eliminates the need for costly drilling and blasting, streamlining the extraction process and potentially reducing costs.
Botswana Diamonds Chairman John Teeling expressed his enthusiasm for the acquisition, stating, “Obtaining this permit is a major milestone for our company. The five kimberlites surrounding the successful Marsfontein mine, particularly M3, hold immense potential. Our research indicates that M3 is a highly prospective target, and we believe it strengthens the value of our adjacent Thorny River properties.”
Teeling acknowledged the current downturn in the diamond industry, attributing it to cyclical demand fluctuations and the growing impact of lab-grown diamonds. However, he remains optimistic about the future, asserting that demand for mined diamonds will rebound and that lab-grown diamonds will primarily cater to the lower-end jewelry market.
With M3 poised for development, Botswana Diamonds is strategically positioning itself to capitalize on a potential market recovery. The company’s acquisition of these South African kimberlites marks a significant step towards expanding its operations and securing a prominent place in the global diamond industry.