Botswana Diamonds group to prospect for diamonds in Mozambique

12 April 2013

The Botswana Diamonds group has been granted an additional license to prospect for diamonds on the Save River, in Mozambique next to the Zimbabwean border, in partnership with Mozambican company Morminas, the group said in a statement issued Thursday.

Morminas, a company founded in 2011, had two partners, Mozambican Lucas Fazine Chachine, with 51 percent of the capital and Portuguese company Sociedade Portuguesa de Inertes de Granito (Sopir) with the remaining 49 percent, which later became part of Electricidade Industrial Portuguesa and was 60 percent owned by EIP, SA and the remaining 40 percent by Granitos de Portugal (Granital).

The Save River flows into Mozambique from the Marange region of Zimbabwe and the Botswana Diamonds group plans to explore potential alluvial diamond deposits on the river.

The group projects it can mine 16.9 million carats of diamonds in the region in 2013.

The agreement signed stipulates that preliminary prospecting will be carried out in a six-month period and if the results are positive a long term contract may be signed. (macauhub)