Botswana Diamonds plc has announced that its wholly owned subsidiary, Atlas Minerals (Pty) Ltd (Botswana), has signed an exploration joint-venture agreement with a wholly owned subsidiary of OJSC Alrosa, Sunland Holdings SA (Switzerland), to explore in Botswana.
The agreement, which requires equal contributions from each party, will utilize and merge Alrosa's exploration technology available to Sunland with the on-ground expertise and extensive diamond database held by Botswana Diamonds.
Applications have been lodged for licenses in the Orapa region. According to Botswana Diamonds, the first ground has been obtained, and work is expected to commence in the third quarter of this year. The initial budget is $1 million.
"We have already been working together for over 18 months on selecting the best ground in the Orapa and Gope areas of Botswana and we have multiple targets. More diamond deposits remain to be discovered in Botswana. The unique technologies being brought to bear on the Kalahari sands improves the chances of success," says John Teeling, Chairman.