Ghaghoo Mine sale hits obstacle

Hey days: Ghaghoo Mine was the country's first underground diamond mine PIC: GEM DIAMONDS
Hey days: Ghaghoo Mine was the country's first underground diamond mine PIC: GEM DIAMONDS

A $4 million (P47 million) deal for the sale of the mothballed Ghaghoo Mine in Gantsi District has run into trouble after one of the partners in the joint venture behind the takeover pulled out.

Okwa Diamonds, owned 10% by Botswana Diamonds (BOD) with the balance held by VAST Resources, announced its plans to take over Ghaghoo last August from Gem Diamonds.

The operation, which was the country’s first underground diamond mine, was placed under care and maintenance in February 2017 due to depressed diamond prices. At least 250 workers had their contracts terminated as a result.

Editor's Comment
Tighten the law on drug dealers

Our youth are perishing; their once hopeful bright future is going down the drain; all because of illicit drugs.It is very easy to blame the addict, but it is not as simple as that! Drug dealing is a very lucrative business for some shameless people amongst our society and as such they have come up with tight strategies on how to push their business.Drug addiction is bad, and while the individual on drugs sometimes might have been the one who...

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