De Beers’ diamond exploration may soon come to an end, owing to government issues
The exploration programme of De Beers Consolidated Mines (DBCM) is grinding to a halt, owing to the ongoing issues the iconic diamond mining company is experiencing with South Africa’s Department of Minerals Resources.
With the hold-up of as many as 54 prospecting licence applications for as long as two years, as well as Mining Charter III deal breakers, DBCM is unlikely to continue budgeting R30-million to R40-million a year for greenfield diamond exploration in South Africa.
When its Voorspoed diamond mine, in the Free State, reaches the end of its life in 2020, a lack of augmentation will mean that the company, which has been synonymous with diamonds since 1888 and which is eager to continue its exploration programme, will be down to one South African mine.
“We, as De Beers, believe that South Africa is highly prospective for diamonds, probably one of the [top] destinations in the world for diamonds. We have in the past had R30million to R40-milion a year in our budget just for greenfield exploration.
“Sadly, over the last few years, although we’ve put that into our budgets, we’ve spent less money, to the extent where we’ll probably next year spend no money on exploration in South Africa.
“The reason for that is that as much as we want to explore in South Africa, we don’t have any prospecting licences granted to us at the moment,” DBCM CEO Phillip Barton told Mining Weekly, following his participation in a panel discussion at last week’s Joburg Indaba.
This story is from the October 13, 2017 edition of Mining Weekly.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 13, 2017 edition of Mining Weekly.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Supply Cliff?
Commodities supply shortfall looming following years of underinvestment
Strikes Threaten Coal Sector
If an agreement cannot be reached on the future structure and form of wage nego­tiations in the coal sector, unions have threatened to strike, says Solidarity mining industry deputy general secretary Connie Prinsloo.
Continued Focus On Downstream Development
Continued Focus On Downstream Development
Unrelenting Scourge
Mining fatalities in South Africa rise for first time in decade
Plea For Open Discussion
Diamonds body calls for ‘productive dialogue’ on Kimberley Process reform
Deep Potential
Stillwater deal seen positioning Sibanye as globally competitive mining champion.
Explosive Advantage
Explosives reloading system helping Gold One to reduce mining costs.
Critical Juncture
South Africa’s mining sector at a crossroads, collaborative effort required.
Consulting Engineering's Viability Proportional to Mining's Growth
The consulting engineer-ing industry’s sustain-ability and growth are largely dependent on and proportional to the mining industry’s sustainability and growth respectively, says industry body Consulting Engineers South Africa (Cesa).
Greater Emphasis On Ensuring Sustainability
Engineering expertise can be used to generate socio-economic gains for mining companies, particularly in jurisdictions that are dependent on the finite business of mineral extraction, states global engineering and infrastructure advisory firm Aurecon, an adviser to the African mining sector.
