Starting in May, Kao's Production Tendered by Fusion
April 29, 12 by IDEX Online Staff Reporter
(IDEX Online News) – Fusion Tenders, in cooperation with I. Hennig & Co, will tender Storm Mountain Diamonds (SMD) run-of-mine diamond production of the KAO mine.
The KAO production will be marketed to the world’s leading diamantaires and will be conducted by sealed tender in the Antwerp offices of I. Hennig & Co. The first tender is scheduled for May 7-10.
Initial expectations are that approximately 15,000+ carats will be offered at the first tender, Fusion said in a release.
The KAO diamond mine in Lesotho is the fourth largest individual kimberlite pipe in South Africa and Lesotho (and the only one mining at or near surface). Operated by Storm Mountain Diamonds and its leading hard-rock mining team, with a proven track record in the construction and development of Lesotho’s leading kimberlite pipes, the KAO mine presents a 189Mt kimberlite resource of c.12.8m carats. The Kao mine is expected to produce in excess of 200,000 carats per year, making it the largest producer of diamonds in Lesotho.
According to I. Hennig & Co Managing Director Arik Sela, “The Kao production caters to the current requirements of consumer markets and to a wide range of diamond traders and manufacturers, irrespective of scale.”
Namakwa Diamonds CEO Richard Collocott said KAO is poised to become the largest producer of diamonds in Lesotho in the next year. Namakwa is a majority shareholder in SMD.
