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Lerala’s fate to be clear by Christmas

Friday, December 01, 2023 | 830 Views |

Still mothballed: Lerala closed six years ago

Lerala Mine’s future will become clearer by Christmas when the Minerals and Energy ministry decides whether to grant the new owner, Maroon Capital, a licence to restart operations.

Lerala Mine, located in the Tswapong area, closed at the end of May 2017 after its Australian owner, Kimberly Diamonds, ran out of operational cash amidst weak sales. At least 130 workers lost their jobs, with a few others retained for care and maintenance activities.

Maroon Capital, a five-year-old firm majority-owned by Israeli investor, Gilad Shabtai, snapped up Lerala Mine in 2020 but is yet to restart production.

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Lerala’s fate to be clear by Christmas

Lerala Mine’s future will become clearer by Christmas when the Minerals and Energy ministry decides whether to grant the new owner, Maroon Capital, a licence to restart operations.