African Diamonds, Lucara to proceed with AK6

[miningmx.com] — LONDON and Botswana Stock Exchange-listed African Diamonds and its joint venture partners Lucara Diamond Corp announced on Tuesday that a formal decision was taken to proceed with the development and construction of the AK6 diamond project in Botswana.

Project development activities began on completion of the feasibility study in June with the selection of Dowding Reynard and Associates (DRA) as the engineering, procurement, construction and management contractor.

African Diamonds chairperson John Teeling said the target of commissioning in the fourth quarter of 2011 is in sight with a ramp up of production during 2012.

“The demand for quality diamonds remains strong while the supply is at best flat,” he said.

“When AK6 comes on stream it will be one of a limited number of kimberlite diamond mines in production.

On November 26 2010 shareholders in African Diamonds will vote on the acquisition of the group by Lucara.

“This proposal is supported by directors and other major shareholders so we are confident that it will be accepted. The financial and technical strength of Lucara will ensure the rapid development of AK6,” Teeling added.