KEY POINTS
- Botswana Diamonds renews two prospecting licenses, including the KX36 kimberlite deposit, extending exploration rights until December 2026.
- AI-driven exploration discovers seven new kimberlite anomalies, enhancing resource potential in Botswana’s mineral-rich regions.
- Renewals strengthen Botswana Diamonds’ position as a key player in the diamond mining sector, contributing to economic growth and industry innovation.
Botswana Diamonds PLC, a prominent mining exploration and development company, has secured a two-year extension for two of its key prospecting licenses, 224/2007 and 169/2019, from the Ministry of Minerals and Energy in Botswana.
The renewed licenses will now remain valid until December 31, 2026, enabling the company to continue its exploration and development initiatives within the region.
According to EnergyCapital, the licenses encompass the KX36 kimberlite discovery, a high-potential deposit spanning 3.5 hectares. The site boasts an indicated resource of 17.9 million metric tons (Mt) grading at 35 carats per hundred tons (cpht) and an inferred resource of 6.7 Mt grading at 36 cpht. The diamonds from this deposit are valued at $65 per carat, underscoring the project’s commercial viability and strategic importance for Botswana Diamonds’ growth trajectory.
Exploration and development milestones
Botswana Diamonds’ commitment to advancing exploration in Botswana has yielded significant results. The extension of these licenses follows the company’s recent approval to commence drilling in the Kalahari region in November 2024.
This milestone allows the company to intensify its focus on identifying and developing new diamond resources in a region known for its mineral-rich reserves.
Leveraging cutting-edge artificial intelligence (AI) technology, Botswana Diamonds successfully identified seven new kimberlite anomalies in December 2024.
These findings have amplified the company’s resource base and strengthened its position as a key player in Botswana’s diamond mining sector. The use of AI underscores the firm’s innovative approach to exploration, ensuring efficient and accurate identification of diamond-rich deposits.
Strategic significance and industry impact
The renewed licenses reinforce Botswana Diamonds’ long-term commitment to contributing to Botswana’s mining industry, a cornerstone of the nation’s economy.
With the KX36 discovery and the newly identified anomalies, the company is poised to enhance its production capabilities and generate substantial economic value for stakeholders.
John Teeling, the chairman of Botswana Diamonds, expressed optimism about the license renewals, emphasizing their importance in supporting the company’s growth objectives.
“These extensions provide us with the stability and operational bandwidth needed to unlock the full potential of our assets in Botswana. We remain committed to sustainable and responsible mining practices that benefit both our shareholders and the local communities,” he said.
Outlook
As the company advances its exploration and development activities, it is well-positioned to capitalize on the growing global demand for diamonds.
The extension of the prospecting licenses is expected to catalyze further discoveries and bolster Botswana Diamonds’ reputation as a leader in the diamond mining sector.
With a robust pipeline of projects and a proven track record of resource development, Botswana Diamonds continues to play a pivotal role in driving innovation and growth within the industry.
