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Botswana Diamonds eyes BCL's 51% stake in Maibwe Diamonds JV

Boswana Diamonds PLC Managing Director James Campbell said the company is interested in acquiring liquidated BCL mine group's 's stake in the Maibwe Diamonds joint venture project, Reuters reported June 7.

BCL, which has been under liquidation since 2016, is selling its 51% interest in Maibwe Diamonds for an undisclosed price. "We have put in an offer to the liquidator of BCL and we hope to get a response in the next few months," Campbell said.

The joint venture consists of a block of 10 licenses in Botswana's central Kalahari region. Local consortium Future Minerals holds a 20% stake in the asset, while private South African venture Siseko owns the remaining 29%.

Botswana Diamonds is looking at expanding its footprint in Southern Africa, Campbell said, adding that the firm has made significant progress in its joint venture projects in the country.

The company has also teamed up with Vast Resources PLC with the aim of mining diamonds in Zimbabwe, saying that both firms "are keen to make the most of this opportunity," the executive noted.