20th Mar 2007 11:14
Lonrho Africa PLC20 March 2007 20th March, 2007 LONRHO AFRICA PLC (Lonrho) NARE DIAMONDS DISCOVERS 66 CARAT STONE Lonrho is pleased to announce the recovery of a 66.60 carat diamond byAustralian based diamond exploration and development company Nare Diamonds. Lonrho holds a 19.05% interest in Nare Diamonds. The diamond was found at the Schmidtsdrift mine in South Africa. It has anI-colour classification, is octahedron in shape and is expected to yield a highvalue. The Schmidtsdrift mine is Nare's leading project, having produced 7,624.25carats from 1,203,277 tonnes at an average grade of 0.63 carats per hundredtonnes since operations recommenced in April 2006. So far 206 stones in excess of 5 carats in size have been recovered. Thisincludes a rare 235 carat stone, two 66 carat stones and 24 stones between 15and 40 carats in size. Nare has an 80% economic interest in the world class Schmidtsdrift diamond minein South Africa, with the remaining 20% owned by the Schmidtsdrift CommunalProperty Association. For further information please contact: Lonrho Africa Plc +44 (0) 20 7016 5105David Lenigas, Chief Executive +44 (0)7881 825 378Emma Priestley, Executive Director +44 (0)7867 785 177Pelham PRCharles Vivian +44 (0) 20 7743 6672 +44 (0) 7977 297 903Candice Sgroi +44 (0) 20 7743 6376 +44 (0) 7894 462 114 Notes to Editors Lonrho is in the process of re-establishing a significant presence on theAfrican continent. Its investment and acquisition strategy, which was adoptedfollowing the appointment of David Lenigas as Chairman and Chief Executive andsubsequent shareholder approval in February 2006, focuses on the infrastructure,transport, natural resources, leisure and agribusiness sectors. Lonrho'sexecutive team has considerable experience across these industries in a widerange of countries. Lonrho announced investments in Luba Freeport, Norse Air,Fly540, Brinkley Mining Plc and Nare Diamonds Ltd in 2006 and an investment inSwissta Water, through Strenner Holdings, in January 2007. 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. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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