22nd Sep 2021 06:49
Kazera Global PLC - diamonds and rare earths explorer in South Africa and Namibia - On Monday forms joint venture with MV Five (Pty) Ltd, which will take control of the Muisvlak diamond processing plant in South Africa in a five-year contract. Kazera currently uses Muisvlak for its diamond mining activities. Throughput is expected to increase sixfold to 35,000 tons of gravel per month because of the deal. Kazera will get 70% of the profit from the plant, and MV Five will get the rest. The plant is expected to become operational by October 1.
"Kazera expects the change in plant ownership to significantly increase the profitability of its diamond mining operations."
Current stock price: 1.27 pence
Year-to-date change: down 11%
By Ivan Edwards; [email protected]
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