Company has identified previously unreported kimberlite anomalies
Trucks carrying ore of the open pit of the Jwaneng Diamond Mine in Jwaneng, Botswana. Photograph: Monirul Bhuiyan/ AFP via Getty ImagesMining company Botswana Diamonds said its AI investigation of its geology database had identified previously unreported kimberlite anomalies, in what it described as a “spectacular result” for the project.
“One of the seven anomalies is on ground that we already hold. Three more are on open ground, which we have applied for, and our applications have been accepted. One of these anomalies has most, if not all, of the characteristics deemed essential to be a kimberlite discovery,” said chairman John Teeling. “In addition, it is in the Jwaneng region, home to the world’s richest diamond mine producing large quantities of high value diamonds.
Looking ahead, Mr Teeling predicted the diamond market would recover, with a shortage of natural diamonds, where Botswana would position itself. The AI investigation applies the cutting edge technology to a massive database, accelerating advanced diamond exploration work in less time and at a cheaper cost.
Botswana identified two events that have hit the diamond industry in recent times, including the downturn in retail sales caused by a cyclical forces and the post-Covid surge in luxury sales, and the growth of lab grown diamonds. The latter is of more concern, Mr Teeling said, and would split the industry into two segments: the lab grown business, offering value for money; and the more exclusive natural market.
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