Lerala Mine assets to be sold to fund liquidation

The diamond miner, which was put under provisional liquidation by the High Court in June this year, currently has a balance of P748,000 in its bank account, and the total value of all assets on site are estimated at P251 million.

The liquidator, Kopanang Thekiso stated in a recent report to creditors that on the date of liquidation, there was only P43,000 balance in the mine’s bank account. In addition to that, he said the Botswana Unified Revenue Service (BURS) then paid a VAT refund of P2.2 million, which he said they have been using to keep the mine secure and insured.