Paragon Diamonds Secures Mining Licence

News: UK mining company Paragon Diamonds secured a prospecting licence for an area of the Tsabong kimberlite field in Botswana's Kgalagadi district, reports Mining Weekly. The three-year licence will enable the company to explore a 442km 2 area of the field. The company stated exploration work had returned some 'highly significant' results so far and it expected the licence to complement its existing portfolio.

BMI View: We maintain a positive outlook for Botswana's mining sector over our five-year forecast period to 2017. Diamond output will remain the mainstay of Botswana mining production. We forecast modest growth for the diamond sector, boosted by new projects planned by Debswana, Gem Diamonds and Lucara Diamond Corp. However, the major driver of growth will be acceleration in the country's coal production. Botswana's mining sector is on course for stable growth over the next few years as we forecast the sector to average 3.7% growth from 2012 to 2017, reaching a value of US$6.13bn by 2017.

This article is tagged to:
Sector: Mining
Geography: Botswana, United Kingdom

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