The diamond mining company DiamonEx is looking for investors to help re-launch operations at Botswana's Lerala Mine, the Mmegi.bw news site reports, quoting Minerals, Energy, and Water Resources Minister Ponatshego Kedikilwe.

The Lerala mine was originally envisioned as a major economic hub for the country's Tswapong region, with a projected 10-year lifespan and an annual production potential of 330,000 carats. In 2008 DiamonEx sold its first Lerala diamonds – a parcel of 10,000 carats – but failed to make a profit due to the crash in prices after the financial crisis hit the diamond industry.

In February 2009, operations at Lerala shut down, leaving the equipment in situ. The government helped DiamonEx secure a loan from local banks with the mine's diamonds as collateral. Kedikilwe noted that all of the mine's 160 employees had received their due compensation and said that the ministry had been advertising for investors in hope of reopening the mine.