JOHANNESBURG (miningweekly.com) –The Lesotho government has announced its intention to renew JSE-listed Gem Diamonds’ Letšeng mining lease until 2034.
The mining lease may be further extended if necessary in relation to any underground development of the mine thereafter.
“I would like to thank the government of Lesotho for its ongoing support, which will allow Gem to continue to extract some of the world's largest and most valuable diamonds from this remarkable resource," Gem CEO Clifford Elphick said in a statement on Thursday.
The full terms of the renewed mining lease are subject to a statutory negotiation process with the Lesotho Mining Board and, when agreed, will be contained in a new mining lease agreement.
A further announcement will be made once the statutory negotiations have been concluded and a new Letšeng mining lease issued.