- BK 11 is the first diamond mine fully owned by a completely citizen owned Botswana company
- Mine targets first recovery of diamonds in 12 months
Visionary Victor Resources, the new owner of BK 11 Diamond Mine situated within the Orapa-Letlhakane Kimberlite Province, announced last week that they have taken full control at the recently acquired asset with operations on target to unearth the first diamond in 12 months.
According to Atang Sesegolo Makgekgenene, Principal of Visionary Victor Resources, expectations are high for BK11, considering that it is the first locally owned diamond mine in Botswana’s history after 55 years of Independence. Visionary Victor Resources purchased the mine from UK-based Firestone Diamonds plc.
The mine is estimated to have 11.5 million tonnes of mineable ore over an open pit mine life of at least 10 years, at an average grade of 8.5 carats per hundred tonnes, with a possibility for further extension from additional drilling and evaluation of the orebody at depth.
“This has been a fulfilling journey for us and to confidently project a diamond yield in the next 12 months is a testament to the tireless, selfless and professional work of our diverse team members, various partnerships and of course the government through the Ministry of Mineral Resources, Green Technology and Energy Security,” Makgekgenene said in a recent interview.
“Visionary Victor, through sister companies, has a long track record in mining across Africa and the experience garnered over these years has come full circle with us mining in our own country. It’s an exciting prospect to be the first Motswana to own and mine diamonds on home soil.”
A recent article by Zimnisky, P. in the Diamond Industry Outlook, SA Mining January/ February 2021 suggests that “Challenging economics for the diamond mining industry has noticeably reduced exploration activity and new mine development over this time, which will undoubtedly limit new supply in the years ahead.”
These market conditions, according to the Due Diligence Report on The Geology of The BK11 Project imply that “BK11 is ideally poised to take advantage of the situation in the short to medium term. Also significant is the recovery of very large Type II stones from the newly established Karowe Mine, which is situated 4,3kms from BK11, which attests to the presence of large stones being present in the mantle in the immediate area. Although our business model success is not benchmarked on such, but on plant efficiency and controlled operational costs.”
Makgekgenene concluded: “Our team is committed to helping realise the full potential of BK11 and make it a home-grown success story and we also look forward to more partnerships with other players in the diamond value chain, including buyers and of course State Owned Enterprises who want to participate in this new chapter in Botswana’s mineral beneficiation journey. Our partners, alliances and employees will be 100 percent citizens. We are Batswana for Botswana diamonds.”