Botswana Diamonds has signed a memorandum of understanding with Vast Resources for the exchange of information derived from past exploration on areas prospective for diamonds in Zimbabwe.
The parties will also establish a jointly owned special purpose vehicle for developing and exploiting diamond resources in Zimbabwe.
In 2008, Vast acquired a database relating to diamonds in Zimbabwe and had, until 2010, carried out its own exploration in the field using information from the database.
In turn, Botswana Diamonds independently acquired a Zimbabwe diamond database and, along with the company’s networks, has expertise in diamond exploration, development and mining.
Botswana Diamonds chairperson John Teeling commented that Zimbabwe is a country with excellent diamond potential. “Both Botswana Diamonds and Vast have extensive experience in and knowledge of the country.
It is opening for business and both companies are keen to make the most of this opportunity.”source: mining.com