Lerala Mine�s worth rises 24% to P890m

According to Miningweekly, mineral resource consultancy, Venmyn Deloitte has valued the Lerala diamond mine at some A$105 million (P890 million), which was 24 percent higher than Kimberley’s in-house valuation of A$85-million. Kimberley said yesterday that the increase in valuation was driven largely by an upgrade to the mine’s mineral resource and ore reserve that was announced in January this year. This along with decreased costs negotiated within the mining contract, a weaker Australian dollar assumed over the life of the project, and Venmyn’s decision to place a value on inferred resources, which currently fell outside of the life-of-mine plan.

Once in production, the Lerala mine was forecast to have a life of some seven years, treating 1.4-million tonnes of ore a year and producing an average of 357,000 carats per year.