John Teeling

The board of Botswana Diamonds, the AIM listed diamond explorer (AIM: BOD), has announced that an agreement to explore in Botswana has been signed by Atlas Minerals (Pty) Ltd (Botswana), a wholly owned subsidiary of Botswana Diamonds, and by Sunland Holdings SA (Switzerland) a wholly owned subsidiary of OJSC “Alrosa” of Russia.

Alrosa  is the world’s largest rough diamond producer by volume  with 17 producing mines and a highly successful exploration record.  The unique exploration technology developed by Alrosa will be applied in Botswana for the first time.

The agreement requires equal contributions from each party.  The joint venture will utilise and merge the exploration technology available to Sunland with the on ground expertise and extensive diamond database held by Botswana Diamonds.

Applications have been lodged for licences in the Orapa region.  The first ground has been obtained and work is expected to commence in Q3 2013.  The initial budget is $1 million.

John Teeling, Chairman said they are delighted with this agreement.  “This is good news for Botswana Diamonds – and for Botswana itself,” Teeling said.

“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.”