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Ghaghoo diamond mine The primary asset in Botswana Gem Diamonds Limited has entered into a binding agreement with Pro Civil (Pty) Ltd for the sale of 100% of the share capital of Gem Diamonds Botswana Proprietary Limited (GDB). Pro Civil is a company registered in Botswana. GDB's primary asset is the Ghaghoo diamond mine in Botswana which has been on care and maintenance since March 2017, and which is wholly owned by GDB.    GDB reported for the period ended 31 December 2018, loss before tax of BPW 49.5 million (US$ 4.9 million) and, as at the same date, had gross assets of BWP 42.3 million (US$ 3.9 million). Under the share sale agreement, Pro Civil will make a once-off upfront payment of US$5.4m for the share capital of GDB.   Gem Diamonds will use the sale proceeds for general corporate purposes.   In addition, Pro Civil will assume the environmental liability currently associated with GDB.          ...

Helam has the potential to be a small-scale sustainable Petra Diamonds Limited announces that it has entered into a Sale of Shares and Claims Agreement with regards to the disposal of the Company's and its black economic empowerment partners' interest in Helam Mining Pty  Ltd, is a Diamond Mine in South Africa owned by Petra Diamonds, to Lindleys Mining Pty Ltd for a nominal consideration of ZAR200 million with immediate effect. The Helam mine was put on care on maintenance by the Company during FY 2015, following previous attempts to source a suitable purchaser, and no mining activities have been conducted by Petra since then. The rationale for the disposal is to support the South African Government’s intention to prolong the lives of mines facing closure by facilitating opportunities for emerging miners to the benefit of entrepreneurs, host communities and local employment. The disposal is also in line with Petra’s strategic priorities, which include that...