JOHANNESBURG (miningweekly.com) – Aim-listed diamond explorer Botswana Diamonds on Monday announced that its wholly owned subsidiary Atlas Minerals had signed a joint venture (JV) agreement with Russia-based OJSC Alrosa subsidiary Sunland Holdings SA to conduct exploration in Botswana.
The JV, which required equal contributions from each party, would make use of Alrosa’s exploration technology, which was available to Sunland Holdings SA, while Atlas Minerals would provide on-ground expertise and access to Botswana Diamonds’ extensive diamond database.
This would be the first time Alrosa’s exploration technology would be applied in Botswana.
“This agreement is good news for Botswana Diamonds and for the country itself. We have been working with Alrosa for more than 18 months, selecting the best ground in the Orapa and Gope areas of Botswana and we have identified multiple targets,” Botswana Diamonds chairperson John Teeling commented.
Applications had been lodged for exploration licences in the Orapa region. The first ground had been obtained and work was expected to start in the third quarter of this year, with an initial project budget of $1-million.
“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,” Teeling said.