For sale: Diamond mine, hardly used

Lerala Mine is up for public auction
Lerala Mine is up for public auction

For a deposit of P5 million, ordinary members of the public can book a seat for an online auction to sell Lerala Diamond Mine, a first in the country's history.

The troubled mine, which has operated in fits and starts under different owners since 2008, will go under the hammer from May 24 at 5pm until May 30 at 2pm. The auction will be conducted online, with interested bidders registering in advance for a piece of an operation which, at one point, was targeting the production of 400,000 carats per tonne.

Going under the hammer later this month will be five kimberlite pipes ranging from 0.16 hectares to 2.35 hectares in area, mining rights, a 200 metric tonnes per hour processing plant, 4.2 megawatt diesel generator and other assets.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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