De Beers completes sale of Kimberley Mines

De Beers completes sale of Kimberley MinesBy GIFT NDOLWANE

JOHANNESBURG, (CAJ News) – DE Beers Consolidated Mines announced the completion of the sale of Kimberley Mines to Ekapa Minerals (Pty) Limited.

The transaction, valued at more than US$7 million, includes all assets, including the tailings mineral resource.s

Ekapa Minerals is an investor consortium comprising Ekapa Mining 50,1 percent) and Petra Diamonds Limited (49,9 percent).

In December when the deal was announced, De Beers said the sale process followed a competitive process that attracted more than 70 expressions of interest.

The decision to sell to Ekapa Minerals was predicated on the basis that it is an experienced local TMR operator with sound technical, financial and economic capability as well as strong corporate social responsibility credentials, including a real and ongoing commitment to the Kimberley region.

The region is in the Northern Cape.

The sale combines experienced operators and enables them to leverage their joint resources, expertise and capabilities to create a compelling future for Kimberley’s tailing resources.

CAJ News

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Posted by on Jan 21 2016. Filed under Africa & World, Featured, Finance, Mining, Mining & Engineering, National, News, Regional, Technology. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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