(Ecofin Agency) - Botswana-based Lerala gem mine has been sold for over $8 million during an online auction opened last May 24 and closed yesterday May 30. John Taylor, an associate director at auctioneers GoIndustry DoveBid, revealed.

The successful bidder out of the 12 participants will be publicly known later this week. The auctioneers are currently dealing with the mining rights transfer and the sale-related paperwork.

For the record, the project includes five kimberlite pipes of 0.16-2.35 ha, mining rights, a processing plant estimated at 200 tons per hour, a 4.2MW diesel generator and other assets.

Let’s note that Kimberlite Diamonds, the then-owner, closed the mine last June saying it has been recording lower sale volume while operating costs increased.

Nino Kansoun