Lerala Village dealt huge blow as mine closes again

Lerala Mine technical and operations director, Michael Brennan told Mmegi Business in an interview yesterday that the rapidly deteriorating prices of rough diamonds and worsening economic climate have meant that the mine is no longer receiving enough income as originally envisaged.

He said that the outlook for diamond prices in the short-term remains poor and therefore the company believes that it is better to "leave the diamonds in the ground than sell at low prices" that do not help cover costs.