Mining company Botswana Diamonds has obtained a mining permit for its Thorny River project in South Africa. The permit enables the firm to commence gold production amid favorable global market conditions. The company had placed Thorny River on maintenance and care since October 2023 due to declines in diamond prices and a delay in permit issuance.
John Teeling, Chairman, Botswana Diamonds, said the firm notes “… 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.”
The contractor will pay Botswana Diamonds a 15% revenue royalty from proceeds of diamonds produced at Thorny River.
Botswana Diamonds is also awaiting approval for a second project in South Africa, for which it submitted a permit application alongside Thorny River.
