De Beers has announced that the conditions have now been met and the sale concluded of De Beers’ effective 70% share in the AK06 diamond deposit to Lucara Diamond Corporation, a Canadian junior diamond mining company, for US$49 million in cash.
Stephen Lussier, Chairman of De Beers Botswana commented “This is a win-win solution for diamond mining in Botswana. De Beers’ focus has always been on large-scale projects that give us a better strategic fit – such as the recently announced $500 million extension project at the Jwaneng mine. With the downscaling of the AK06 project’s ambitions, we are pleased that smaller operators will have the opportunity to bring AK06 into production, albeit on a smaller scale, helping to reinforce Botswana’s position as the world’s leading diamond producing country.”
