AF Diamonds' AK6 kimberlite 'in a class of its own'

AFD, which released its full year results on Monday, says the planning and evaluation for the AK6 deposit, in which it currently holds a 28.38 percent stake, has been completed and, with the financing in place, the last step is the mining licence.

"The application for a mining licence (was) submitted to the Government of Botswana in October," the company told Mining Weekly. It says with existing kimberlite mines either mature or declining, expectations are for substantial carat price increases.
It is estimated that capital costs for the first phase, which includes a project contingency, will be in the region of US$220-million.  Projections are that at full production in 2012, the mine will produce about one million carats of high-value gem-quality diamonds a year.