Letseng Diamonds Planning London, Johannesburg Flotation
May 10, 05Letseng Diamonds, which reopened a
The Letseng mine, the highest in the world at an altitude of 3,100 meters, is in the southern African
The company said 76 percent of the mine, equally owned by South African miner JCI and black empowerment group Matodzi Resources, would be floated. The government of
Letseng Diamonds says output from the mine has beaten forecasts, and money raised from the flotation would be used to double the mine's capacity.
The mine was operated by De Beers between 1977 and 1982 and was closed with less than 20 percent of the open pit ore being treated.
In the past, the mine produced a number of large diamonds, including a 215-carat diamond and a 95-carat stone that were found in 2003.
The biggest diamond ever mined at Letseng was the 600-carat Lesotho Brown.