Botswana Diamonds agrees 3% royalty with Petra for data on Reivilo prospect

21st October 2022 By: Marleny Arnoldi - Deputy Editor Online

London-listed Botswana Diamonds has entered into a data licence agreement with fellow-listed Petra Diamonds to gain access to the full library of data on the Reivilo kimberlite cluster.

Botswana Diamonds was recently awarded a prospecting licence over the Reivilo prospect, with Petra having been the prior holder of the licence.

The data licence agreement grants Petra a 3% royalty on any production revenue generated from Reivilo, in return for access to all the insights Petra accumulated during their work on the area.

Botswana Diamonds will use this data to plan an exploration programme, saving the company time and money.

Reivilo is located in South Africa’s Northern Cape province, in a town called Barkley West, with the nearest active diamond mine, Finsch, owned by Petra, being 110 km away.

Barkley West was the site of the first major diamond rush in South Africa in 1870.