Debt-ridden Diamonex Mine to start operating soon

Led by Fleming Asset Management Botswana (FAMB), bondholders are in the process of concluding an agreement to acquire majority shareholding in the mine and restructure the companys debt, the minister revealed at a Kgotla meeting here last week.

When the mine ceased operating a few months ago and trading on the BSE in January, 285 people had lost their jobs. Kedikilwe said DiamonEx had failed to repay a loan of P10 million it acquired from the European Bank.