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Gem Diamonds awarded mining l
Gem Diamonds awarded mining l.
About this update from Gem Diamonds Limited
[{"type":"text","content":"\n RNS Number : 6185Z Gem Diamonds Limited 18 January 2011 \n \n\n18 January 2011 Announcement\n \n \nGEM DIAMONDS LIMITED\n \nGem Diamonds awarded mining licence for Gope diamond deposit in Botswana\n \nGem Diamonds Limited (LSE: GEMD) (Gem Diamonds) (the Company) is pleased to announce that its wholly owned subsidiary, Gope Exploration Company, has been awarded a mining licence for the Gope diamond deposit by the Government of the Republic of Botswana. \n \nThe mining licence has been granted for a period of 25 years, during which time the Company envisages a phased approach to the construction of the mine, with an underground mine planned to improve the Company's knowledge of the ore body, diamond valuation and metallurgical characteristics. After an initial period of mining, the production capacity will be scaled up to a higher steady state. The life of mine at Gope is currently estimated to be in excess of 30 years. Details of the mine plan and the relevant staged capital expenditure will be released at the time of the announcement of the Company's 2010 results on 15 March 2011.\n \nIntegral to the mining licence approval process was the approval of the Environmental Impact Assessment (EIA) by the Government of Botswana which was obtained in late 2008. The Company remains committed to continue working closely with the project's affected communities and other interested parties.\n \nGem Diamonds' CEO, Clifford Elphick commented: \n \n\"I am pleased to be able to announce that Gem Diamonds has been awarded a mining licence from the Government of the Republic of Botswana for the Gope diamond deposit. This is the first step towards the development of the Gope...