De Beers sells Buffels Marine Mining Right
Published by Will Owen,
Editor
Global Mining Review,
De Beers Group has announced the successful sale of the Buffels Marine Mining Right (BMMR), and associated assets, to Kleinzee Holdings Proprietary Ltd as of 7 August 2023. The BMMR was De Beers’ last remaining mining right at Namaqualand Mines.
De Beers has been conducting rehabilitation activities since it ceased operations on the BMMR in 2010, while looking for a responsible operator for the mining right. Kleinzee Holdings is a consortium led by Melki Mining Proprietary Ltd and HolGoun Investment Holdings Proprietary Ltd. Through the sale process, Kleinzee Holdings demonstrated extensive mining experience and the requisite resources to operate and further develop the mine.
Moses Madondo, Managing Director of De Beers Group Managed Operations, said:
“De Beers is pleased to handover the BMMR to Kleinzee Holdings as they resume mining operations and create new opportunities for economic activity and employment. We extend our appreciation to all parties involved in the successful completion of this transaction, and for making a new future possible in the region.”
Thiru Govender, the Chairman of Kleinzee Holdings, said:
“We are happy to have concluded the acquisition of the BMMR from De Beers, through a competitive bidding process, and within a relatively short period of time. Within our Consortium, we have the competencies, expertise, and experience to reopen and operate the BMMR successfully. We are conscious of the challenges that face us in operating a mine which has been conducting rehabilitation activities since ceasing operations in 2010, and we are committed to ensuring that the mine is operational within the shortest period, bringing much needed employment and economic stimuli to Kleinzee and the surrounding towns. We wish to thank the De Beers team for the professional and cooperative way this transaction was concluded.”
Through the month of August, De Beers has been working with Kleinzee Holdings to ensure a seamless and responsible handover of the BMMR. De Beers continues to invest in exploration activities in the Northern Cape Province and is committed to building a positive legacy in the region through investments in socio-economic development projects focused on education, skills development, and job creation.
Read the article online at: https://www.globalminingreview.com/finance-business/11092023/de-beers-sells-buffels-marine-mining-right/
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