DiamonEx shifts focus to coal

DiamonEx sold its Lerala Mine to UK-based Mantle Diamonds Limited in April, with directors stating that they were eagerly looking for resource and mining prospects in other mineral categories.

The Sechaba deal, which is currently being finalised, will grant DiamonEx access to more than 968 million tonnes of coal near the Morupule Power Station, giving the Australian former diamond miner a new lease of life. In a statement, DiamonEx directors says the purchase of Sechaba was through the offer of about 2.3 billion shares to Shumba Resources Limited, the coal project's holding company.