AFD African Diamond

 

TIDMAFD 
 
RNS Number : 4536V 
African Diamonds PLC 
02 November 2010 
 

African Diamonds PLC 
 
AK6 Update 
 
·      Project development on track 
·      Long-lead items ordered 
·      Senior staff engaged 
 
African Diamonds plc ('AFD') and joint venture partners Lucara Diamond Corp. Inc 
('Lucara') are pleased to announce that a formal decision to proceed with the 
development and construction of the AK6 diamond project in Botswana has been 
made at a recent meeting of the Boteti Mining Pty Ltd ('Boteti') joint venture 
board. 
Project development activities commenced upon completion of the feasibility 
study in June of this year with the selection of Dowding Reynard and Associates 
("DRA") as the Engineering, Procurement, Construction and Management ("EPCM") 
contractor. DRA's focus areas have been the critical schedule activities which 
ensure that the production target of Q1 2012 is achieved with commissioning 
starting in Q4 2011.  These activities included the placing of orders for long 
lead time equipment, including the autogeneous mill and crushers, as well as the 
award of the earthworks contract for the site civil works and the access road 
upgrade. The earthworks contract mobilized to site in September. Detailed 
engineering has also been advanced in support of the project schedule which is 
on track. 
An agreement with the Botswana Power Corp. for the supply of bulk power has been 
concluded and the power line contract has been issued for tender. 
Senior staff have been recruited, including the CEO, General Manager, Finance 
Manager, Safety, Health Environment and Community Relations Manager, and the 
Human Resources Manager, all of these are local appointments with the exception 
of the Finance Manager.  Significant progress has been made on environment and 
community relations tasks, human resource policy, staff housing, and 
recruitment.  This ensures operational capacity for the project development and 
the transition to operations. 
 
John Teeling, Chairman, said: 
"I am delighted at the progress being made on the development of AK6. The target 
of Q4 2011 commissioning is in sight with a ramp up of production during 2012. 
The demand for quality diamonds remains strong while the supply is at best flat. 
 When AK6 comes on stream it will be one of a limited number of kimberlite 
diamond mines in production. 
On 26th November 2010 shareholders in African Diamonds vote on the acquisition 
of AFD by Lucara.  This proposal is supported by directors and other major 
shareholders so we are confident that it will be accepted.  The financial and 
technical strength of Lucara will ensure the rapid development of AK6." 
                                                                02 November 2010 
 
Further information: 
African Diamonds Plc 
John Teeling                                                Tel: +353 1 8332833 
James AH Campbell                                     Tel: +27 83 457 3724 
Finn Cap 
Matthew Robinson, Corporate Finance           Tel: +44 207 600 1658 
Henrik Persson, Corporate Finance                Tel: +44 207 600 1658 
Joanna Weaving, Corporate Broking               Tel: +44 207 600 1658 
College Hill 
Nick Elwes                                                   Tel: +44 (0) 20 
7457 2020 
 
 
                               www.afdiamonds.com 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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