The DiamondCorp diamond mining company announced that it has entered into a diamond exploration joint-venture with the Geoperspectives prospecting firm in Botswana.

As a result of the agreement, DiamondCorp, which owns the Lace diamond mine in the Free State, now holds a 77.5% stake in three licenses. DiamondCorp will earn a controlling stake by completing a feasibility study within five years.

With regards to the Lace diamond mine, DiamondCorp reported that the commissioning process there yielded 1,533.95 carats of gem-quality diamonds, including one 14.74 carat clear white stone. These diamonds were sold for R963 541, with an average price of $79 per carat. 2, 367.51 carats of gem-quality diamonds recovered earlier this year from tailings re-crush were sold for R890,368, averaging $47 per carat.

DiamondCorp CEO Paul Loudon noted: “Demand for the Lace diamonds in May was strong as diamond cutters and polishers sought to fill holes in inventories.”