https://www.miningweekly.com

Botswana Court of Appeals dismisses claim against Lucara

7th February 2014

By: Leandi Kolver

Creamer Media Deputy Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – The Botswana Court of Appeals on Thursday upheld the previous ruling by the Botswana High Court, dismissing the claim against Lucara Diamond’s wholly owned subsidiary African Diamonds by two of its former directors, who were claiming entitlement to a 3% royalty on production from the Karowe diamond project, in Botswana.

The claim was initially heard in the High Court in June 2011, with the court dismissing with costs the former directors’ claims against African Diamonds.

The plaintiffs then appealed the judgment, with the appeal having been heard in Botswana by a panel of international judges on January 21. The judgment was handed down on Thursday with costs again awarded against the plaintiffs.

The Karowe mine is located in north-central Botswana and is part of the Orapa/Letlhakane kimberlite district – one of the world’s most prolific diamond-producing areas. The project, which was being ramped up to full production, had an indicated resource of 51-million tons, containing an estimated 8.2-million carats of diamonds.

Edited by Tracy Hancock
Creamer Media Contributing Editor

Comments

Latest News

Resources Watch
Resources Watch
27th March 2024

Showroom

Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.157 0.196s - 88pq - 2rq
Subscribe Now