Govt suspends Lerala Mine tax payments

Addressing residents at Lerala on Monday  after a tour of  the recently shut-down Lerala Mine, Kedikilwe said it would  not be economically viable for government to employ people to work for the mines as a move to prevent job losses, as suggested by some residents. He also warned that buying major shares in the mines, especially during the current unfavorable diamond market, would be as good as mortgaging the country as government funds would be channeled to clear off the debts.

One resident made a suggestion for government  to consider acquiring major shareholding in the mines in place of  private companies that are more into profit making. He explained that for the High Court to have placed previous owners of Lerala Mine, DiamonEx, under judicial management was a viable thing to do as it prevented a situation where financiers  rushed to auction the mine to any offer available in the hopes to recover their loans which would have prevented companies like Mantle to acquire Lerala Diamond Mine: