25th Sep 2007 07:02
Lonrho PLC25 September 2007 25 September 2007 Lonrho Plc ("Lonrho" or "the Company") Nare Diamonds Completes New Final Recovery Plant and Recovers 32 carat Gem Diamond Lonrho (AIM : LONR), the conglomerate with a structured portfolio of Africaninvestments, is pleased to announce that Nare Diamonds Limited ("Nare"), theAustralian listed African diamond mining company in which it holds a 21.94%stake and which recently announced its intention to change its name to LonrhoMining and pursue a dual listing on AIM, has completed and commissioned a newfinal recovery processing plant at its Schmidtsdrift mine in South Africa whichshould significantly increase the recovery of diamonds. The new final recovery plant will treat all diamondiferous concentrates producedby the mining operations at the Schmidtsdrift mine. The plant contains sixproprietary Flowsort X-ray diamond recovery machines, each calibrated to recoverspecific diamond size fractions. The recovery process is expected to attainrecovery levels over 95%. The hands free process is undertaken in a closedcircuit, with no human interaction. Nare is pleased to announce that, after the commissioning of the plant, it hasrecovered a gem quality 32 carat diamond from the Schmidtsdrift mine. Thediamond has been valued with an average value per carat of US$2,000. http://www.rns-pdf.londonstockexchange.com/rns/4073e_-2007-9-24.pdf David Lenigas, Chairman and CEO of Lonrho Plc and Chairman of Nare Diamondscommented: "I am confident that the new technology that has been commissioned at theSchmidtdrift mine will add significant value to the operations in terms of thequality and volume of diamonds recovered. The X-ray based recovery is regardedby the industry as the optimal recovery process and the most secure. "Additionally the recovery of the 32 carat diamond last week emphasises thestrong potential of the Schmidtsdrift resource and operations" ENQUIRIES Lonrho Plc +44 (0) 20 7016 5105David Lenigas, Chief Executive +44 (0)7881 825 378Emma Priestley, Executive Director +44 (0)7867 785 177 Pelham PRCharles Vivian +44 (0) 20 7743 6672 +44 (0) 7977 297903Alisdair Haythornthwaite +44 (0) 20 7743 6676 +44 (0) 7714 721379 Collins Stewart EuropeHugh Field +44 (0) 20 7523 8350Jonny Sloan NOTES TO EDITORS About NARE DIAMONDS Nare Diamonds is an Australian diamond mining company with a portfolio ofexploration and production assets in southern Africa. The Company is headed upby Mr Charles Mostert and has interests in four Diamond mining projects:Schmidtsdrift, Kamfersdam, Groen River and the Klipspringer Joint Venture. The Schmidtsdrift diamond mine is comprised of six contiguous farms located onthe Western bank of the Vaal River covering a total combined area of 320km2. Themine is a producing alluvial diamond mine. Prospecting and trial miningactivities, since 2001, have provided consistent historical production. Rehohave recovered 5,686 carats since April 2006. This was at an average grade of0.63 carats per hundered tonnes, with an average stone size of 1.41 carats. 177stones that exceeded 5 carats in individual size were mined during this periodas well as a rare 235 carat diamond. About LONRHO: Lonrho Plc is an expanding conglomerate that is rapidly growing a successfulbusiness throughout Africa. The Company is listed on the London AIM stockexchange (LONR). Lonrho is strategically focused on the development of businessopportunities in infrastructure, transportation, support services and naturalresources. The Company has over 20,000 shareholders and substantialinstitutional backing to support its mandate to build a profitable business thatplays a fundamental role in the development of the African economy. Since 2006, the Company has invested in or acquired control of: • Hotel Cardoso - www.hotelcardoso.co.mz (retained)• Nare Diamonds - www.narediamonds.com• Luba Freeport - www.lubafreeport.com• Fly540 - www.fly540.com• Norse Air - www.norseair.co.za• Swissta Holdings - www.swissta.com• SA Independent Liner Services This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Lonrho