Lonrho (AIM : LONR), the conglomerate with a structured portfolio of African investments, is pleased to announce that Nare Diamonds Limited (“Nare”), the Australian listed African diamond mining company in which it holds a 21.94% stake and which recently announced its intention to change its name to Lonrho Mining and pursue a dual listing on AIM, has completed and commissioned a new final recovery processing plant at its Schmidtsdrift mine in South Africa which should significantly increase the recovery of diamonds.
The new final recovery plant will treat all diamondiferous concentrates produced by the mining operations at the Schmidtsdrift mine. The plant contains six proprietary Flowsort X-ray diamond recovery machines, each calibrated to recover specific diamond size fractions. The recovery process is expected to attain recovery levels over 95%. The hands free process is undertaken in a closed circuit, with no human interaction.
Nare is pleased to announce that, after the commissioning of the plant, it has recovered a gem quality 32 carat diamond from the Schmidtsdrift mine. The diamond has been valued with an average value per carat of US$2,000.
David Lenigas, Chairman and CEO of Lonrho Plc and Chairman of Nare Diamonds commented:
“I am confident that the new technology that has been commissioned at the Schmidtdrift mine will add significant value to the operations in terms of the quality and volume of diamonds recovered. The X-ray based recovery is regarded by the industry as the optimal recovery process and the most secure.
“Additionally the recovery of the 32 carat diamond last week emphasises the strong potential of the Schmidtsdrift resource and operations”
ENQUIRIES
Lonrho Plc +44 (0) 20 7016 5105
David Lenigas, Chief Executive +44 (0)7881 825 378
Emma Priestley, Executive Director +44 (0)7867 785 177
Pelham PR Charles Vivian +44 (0) 20 7743 6672, +44 (0) 7977 297903
Alisdair Haythornthwaite +44 (0) 20 7743 6676, +44 (0) 7714 721379
Collins Stewart Europe Hugh Field +44 (0) 20 7523 8350 Jonny Sloan
NOTES TO EDITORS
About NARE DIAMONDS
Nare Diamonds is an Australian diamond mining company with a portfolio of exploration and production assets in southern Africa. The Company is headed up by Mr Charles Mostert and has interests in four Diamond mining projects: Schmidtsdrift, Kamfersdam, Groen River and the Klipspringer Joint Venture.
The Schmidtsdrift diamond mine is comprised of six contiguous farms located on the Western bank of the Vaal River covering a total combined area of 320km2. The mine is a producing alluvial diamond mine. Prospecting and trial mining activities, since 2001, have provided consistent historical production. Reho have recovered 5,686 carats since April 2006. This was at an average grade of 0.63 carats per hundered tonnes, with an average stone size of 1.41 carats. 177 stones that exceeded 5 carats in individual size were mined during this period as well as a rare 235 carat diamond.
About LONRHO:
Lonrho Plc is an expanding conglomerate that is rapidly growing a successful business throughout Africa. The Company is listed on the London AIM stock exchange (LONR). Lonrho is strategically focused on the development of business opportunities in infrastructure, transportation, support services and natural resources. The Company has over 20,000 shareholders and substantial institutional backing to support its mandate to build a profitable business that plays a fundamental role in the development of the African economy.
Since 2006, the Company has invested in or acquired control of:
- Hotel Cardoso - www.hotelcardoso.co.mz (retained)
- Nare Diamonds - www.narediamonds.com
- Luba Freeport - www.lubafreeport.com
- Fly540 - www.fly540.com
- Norse Air - www.norseair.co.za
- Swissta Holdings - www.swissta.com
- SA Independent Liner Services
