Gem Diamonds has failed to find a buyer for its Ghaghoo Diamond Mine in Botswana’s Central Kalahari Game Reserve (CKGR), which had been on care and maintenance since February 2017.
Mmegi reports that the diamond miner, which is currently focused on its Lesotho operations, is now considering a final closure of the Botswana operation.
It had prioritised a sale of the mine in 2022 but a planned takeover deal with Botswana Diamonds collapsed in May last year.
Gem Diamonds said a possible closure was being discussed with affected stakeholders.
The miner spent $1.9 million on care and maintenance activities at Ghaghoo last year compared with $2.1 million in 2021.
The diamond mine was placed under care and maintenance in February 2017 due to declining diamond prices.
There were 250 workers whose contracts were terminated as a result.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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