DIAMONDS
The exploration programme of De Beers Consolidated Mines (DBCM) is grinding to a halt owing to the ongoing issues the iconic diamond mining company is experiencing with South Africa’s Department of Minerals Resources (DMR). With the hold-up of as many as 54 prospecting licence applications for as long as two years as well as Mining Charter Three deal-breakers, DBCM is unlikely to continue budgeting between R30-million to R40-million a year for greenfield diamond exploration in South Africa. (Also watch attached Creamer Media video).
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