Gem Diamonds and Lucara end talks

Gem Diamonds has announced the termination of talks with Lucara Diamonds over a possible merger that could have culminated in the two Southern Africa-focused companies creating a billion dollar mining house.

In a statement released this week, Gem Diamonds - which was recently licensed to mine in the CKGR - confirmed the termination of the negotiations but did not elaborate.

"Further to the announcement on 21 March 2011, no agreement has been reached ... with Lucara Diamond Corp and these discussions are no longer ongoing," said the company. Lucara, like Gem, has operations in Lesotho and Botswana.

Editor's Comment
Women unite for progress

It underscores the indispensable role women play in our society, particularly in building strong households and nurturing families. The recognition of women as the bedrock of our communities is not just a sentiment; it's a call to action for all women to stand together and support each other in their endeavours.The society's aim to instil essential principles and knowledge for national development is crucial. By providing a platform for...

Have a Story? Send Us a tip
arrow up