Petra Diamonds and Ekapa Mining (Pty) Ltd have entered into a joint venture agreement, which combines the respective operations, owned and operated by the joint venture partners in the Kimberley area, into an unincorporated joint venture named the Kimberley Ekapa Mining Joint Venture (KEM JV), according to a press release from Petra Diamonds.
The respective operations comprise Petra’s Kimberley Underground mines, Ekapa Mining’s tailings operations and Kimberley Miners Forum (Pty) Ltd), and the Kimberley Mines tailings operations.
“The transaction demonstrates our commitment to ensuring a sustainable future for the diamond mining industry in Kimberley, which will benefit the Kimberley Mines workforce and local community. The KEM JV is expected to bring significant synergies to the operations at Kimberley, including the ability to increase throughput and reduce operating costs, thereby extending the operation’s mine life,” says Petra Diamonds Chief Executive Officer Johan Dippenaar.
