Botswana Diamonds, a diamond exploration and project development company, has secured a mining permit for its Thorny River project in South Africa.
The permit covers an area proximate to the Marsfontein diamond mine.
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The Thorny River project has undergone “extensive” geophysical analysis, drilling and bulk sampling along its dyke system, revealing geology and grades consistent with the adjacent Klipspringer mine.
Botswana Diamonds applied for two mining permits following the discovery of two kimberlite blows within the project, which were deemed commercially viable at appropriate diamond prices.
The company has now secured one mining permit out of the two applications.
Botswana Diamonds chairman John Teeling said: “At last we have received the mining permit. We also note a small improvement in diamond prices. If the price rises are sustained, we can look forward to the commencement of contractor mining at Thorny River.”
Despite Botswana Diamonds’ focus on Botswana, the company made the decision to contract out the mining of the Marsfontein gravels and dumps as a proof of concept, from which the company receives a 15% revenue royalty.
However, due to falling diamond prices and permitting delays, operations were suspended in October 2023.
The company remains poised to resume mining at Marsfontein and initiate operations at Thorny River, contingent on market recovery.
In October 2024, Botswana Diamonds expanded its portfolio with a prospecting permit for five diamond-bearing kimberlites in the Marsfontein area, encompassing 900.67 hectares, including the Marsfontein mine.
The company also obtained environmental authorisation for one of its Thorny River mining permit applications in December 2024.
