By Jaime Llinares Taboada
Kazera Global PLC said Monday that production at the processing plant used for its Alexander Bay diamond project in South Africa will increase six-fold following a joint venture with the local community's company.
The AIM-listed investment company said the deal will see MV FIVE (Pty) Ltd. taking over control of the Muisvlak diamond processing plant during five years, with 70% of the profits being retained by Kazera. As part of the agreement, throughput is expected to increase six-fold to 35,000 metric tons of gravel per month.
Kazera said the change in ownership will significantly increase the amount of gravel it can process from its Alexander Bay activities, and will significantly increase the profitability of its diamond mining operations.
Shares at 0746 GMT were up 6.9% at 1.40 pence.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT
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September 20, 2021 at 03:04PM
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Kazera's Diamond Processing Plant in South Africa to Multiply Throughput Under New Operator - MarketWatch
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