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Lesotho may offer prospecting rights for European Diamond after feasibility studies
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DIAMOND development and exploration company, European Diamonds, could take a decision by the middle of next year to proceed with a new diamond mine in Lesotho. CEO Roy Spencer, said in an interview in Cape Town that the company would raise debt and equity finance if it decided to build a new mine and plant at the Liqhobong mine in Lesotho.
Liqhobong is one of only two diamond mines in Lesotho. The other is the Letseng Diamond Mine which was recently acquired from JCI and Matodzi by Gem Diamonds. |
Spencer said Liqhobong was first discovered in the 1960s by prospector Jack Scott who was working with De Beers at the time.
It was not considered viable then but for 20 years it was worked by a local mining cooperative. European Diamonds, which is quoted on London's AIM market, was founded by Spencer and Partners to explore Kimberlites in Finland. It still has those properties and hopes to build Europe's first diamond mine in time.
However, it has now made the development of Liqhobong its flagship project. European Diamonds' production is being marketed in Antwerp by BHP Billiton.
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