Africa-Press – Namibia. THE Toronto Stock Exchange-listed company Diamond Fields Resources (DFR) is selling its mining interests in Namibia to Jean-Boulle Diamond Mines for over N$4,2 million and an additional annual amount – a serious windfall, considering the company at application paid not more than N$100 000.
Diamond Fields owns 100% stakes in mining licences 111 and 139 at Lüderitz in the //Kharas region.
The Boulle Diamond Mines belongs to the Monaco-based Mauritian businessman Jean-Raymond Boulle, whose other company, Spirit Resources SARL, holds a 39,1% interest in Diamond Fields Resources.
Since its foundation in 1995, the group has signed more than US$5 trillion in transactions and is listed on the London, Toronto, Sydney, and Mauritius stock exchanges.
Mining licence 111 covers 31 175ha and the company applied for it in September 2000, and the Ministry of Mines and Energy granted it on 4 December 2015 for 10 years.
Diamond Fields applied for licence 139 on 12 January 2005, which was granted from 5 November 2007 until 4 November 2029. It comprises 13 587ha.
The company also has a 70% stake in its Namibian subsidiary, Namibian Diamond Company Pty, which owns mining licence 32 at Lüderitz. This area, covered by licence 32, comprises 17 000ha.
Boulle Diamond Mines will pay Diamond Fields an initial amount of US$150 000, followed by annual cash payments of US$100 000.
Diamond Fields will also be entitled to a 1% net sales royalty from the Namibian mining interests.
Diamond Fields chief executive officer John McGloin says they sold their interest in Namibia to enable them to focus on developing attractive gold options.
“The sale of the diamond assets will enable us to focus on the development of our portfolio of attractive gold growth options, while ensuring that Diamond Fields Resources shareholders retain a share in any future diamond production,” McGloin says.
He says the recent progress at the Cascades Gold Project in Burkina Faso is encouraging and demonstrates the significant potential to expand the reported mineral resource estimate.
Boulle founded, chaired and held majority shares in Diamond Fields Resources, where he was also the chief executive officer.
Although the Boulle Mining Group is based in Luxembourg, Boulle founded it in Dallas, Texas.
RAYMOND BOULLE’S FULL BIOGRAPHY
Jean-Raymond Boulle (born 1950) started his career at the De Beers Diamond Trading Company, where he worked for 10 years in Zaire, Sierra Leone, and Antwerp, Belgium.
After that, he established Boulle Inc in Dallas, Texas, United States (US). In 1984 he began exploring for diamonds, first in Minnesota, then in Arkansas.
In 1987, he formed Arkansas Diamond Development Co to carry out exploration work on the Crater of Diamonds State Park in Arkansas.
Jean-Raymond Boulle is the founder of Diamond Fields Resources Inc, Diamond Fields International Ltd, America Mineral Fields Inc, and Titanium Resources Group Ltd, four publicly traded companies with deposits of nickel, cobalt, copper, zinc, titanium and diamonds.
Boulle is also a member of the Board of the Corporate Council on Africa (CCA).
He has maintained a longstanding involvement with the CCA since it was established in 1993 to promote business and investment between the US and the nations of Africa.
Boulle was chairman, founder and CEO, as well as a significant shareholder of Diamond Fields (Diamond Fields Resources Inc. TSE: DFR), which commenced trading on the Vancouver Stock Exchange on 6 April 1993, and, in late 1994, discovered nickel, copper and cobalt ore bodies at Voisey’s Bay Mine in Labrador, Canada.
The Voisey’s Bay Mine deposit was estimated to contain 141 million tonnes at 1,6% nickel.
Boulle was awarded Sierra Leone’s highest order of merit – commander of the Order of the Rokel – by Alhaji Ahmad Tejan, the president of the Republic of Sierra Leone, in recognition of the contribution that Boulle has made to the country and people of Sierra Leone over 30 years.
Boulle and Robert Friedland have worked together in Diamond Fields, and in 1996, the Voisey’s Bay Mine Project was purchased by Inco for C$4,3 billion.
NAMIBIAN DIAMONDS
Namibian diamonds are still in demand around the world for their rare clarity, especially those recovered from the sea.
According to De Beers, which controls over 90% of local production, Namibia has the richest known marine diamond deposits in the world, estimated at more than 80 million carats.
Much of this remains to be recovered and the sector remains carrying the treasury through taxes.
The entrance of new players in the market over the years has not been easy, however, new players have opened up shop in the country to polish and do small jewellery manufacturing.
Namibia produced US$914 million (N$15 billion) worth of rough diamonds last year.
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Diamond Fields owns 100% stakes in mining licences 111 and 139 at Lüderitz in the //Kharas region.
The Boulle Diamond Mines belongs to the Monaco-based Mauritian businessman Jean-Raymond Boulle, whose other company, Spirit Resources SARL, holds a 39,1% interest in Diamond Fields Resources.
Since its foundation in 1995, the group has signed more than US$5 trillion in transactions and is listed on the London, Toronto, Sydney, and Mauritius stock exchanges.
Mining licence 111 covers 31 175ha and the company applied for it in September 2000, and the Ministry of Mines and Energy granted it on 4 December 2015 for 10 years.
Diamond Fields applied for licence 139 on 12 January 2005, which was granted from 5 November 2007 until 4 November 2029. It comprises 13 587ha.
The company also has a 70% stake in its Namibian subsidiary, Namibian Diamond Company Pty, which owns mining licence 32 at Lüderitz. This area, covered by licence 32, comprises 17 000ha.
Boulle Diamond Mines will pay Diamond Fields an initial amount of US$150 000, followed by annual cash payments of US$100 000.
Diamond Fields will also be entitled to a 1% net sales royalty from the Namibian mining interests.
Diamond Fields chief executive officer John McGloin says they sold their interest in Namibia to enable them to focus on developing attractive gold options.
“The sale of the diamond assets will enable us to focus on the development of our portfolio of attractive gold growth options, while ensuring that Diamond Fields Resources shareholders retain a share in any future diamond production,” McGloin says.
He says the recent progress at the Cascades Gold Project in Burkina Faso is encouraging and demonstrates the significant potential to expand the reported mineral resource estimate.
Boulle founded, chaired and held majority shares in Diamond Fields Resources, where he was also the chief executive officer.
Although the Boulle Mining Group is based in Luxembourg, Boulle founded it in Dallas, Texas.
RAYMOND BOULLE’S FULL BIOGRAPHY
Jean-Raymond Boulle (born 1950) started his career at the De Beers Diamond Trading Company, where he worked for 10 years in Zaire, Sierra Leone, and Antwerp, Belgium.
After that, he established Boulle Inc in Dallas, Texas, United States (US). In 1984 he began exploring for diamonds, first in Minnesota, then in Arkansas.
In 1987, he formed Arkansas Diamond Development Co to carry out exploration work on the Crater of Diamonds State Park in Arkansas.
Jean-Raymond Boulle is the founder of Diamond Fields Resources Inc, Diamond Fields International Ltd, America Mineral Fields Inc, and Titanium Resources Group Ltd, four publicly traded companies with deposits of nickel, cobalt, copper, zinc, titanium and diamonds.
Boulle is also a member of the Board of the Corporate Council on Africa (CCA).
He has maintained a longstanding involvement with the CCA since it was established in 1993 to promote business and investment between the US and the nations of Africa.
Boulle was chairman, founder and CEO, as well as a significant shareholder of Diamond Fields (Diamond Fields Resources Inc. TSE: DFR), which commenced trading on the Vancouver Stock Exchange on 6 April 1993, and, in late 1994, discovered nickel, copper and cobalt ore bodies at Voisey’s Bay Mine in Labrador, Canada.
The Voisey’s Bay Mine deposit was estimated to contain 141 million tonnes at 1,6% nickel.
Boulle was awarded Sierra Leone’s highest order of merit – commander of the Order of the Rokel – by Alhaji Ahmad Tejan, the president of the Republic of Sierra Leone, in recognition of the contribution that Boulle has made to the country and people of Sierra Leone over 30 years.
Boulle and Robert Friedland have worked together in Diamond Fields, and in 1996, the Voisey’s Bay Mine Project was purchased by Inco for C$4,3 billion.
NAMIBIAN DIAMONDS
Namibian diamonds are still in demand around the world for their rare clarity, especially those recovered from the sea.
According to De Beers, which controls over 90% of local production, Namibia has the richest known marine diamond deposits in the world, estimated at more than 80 million carats.
Much of this remains to be recovered and the sector remains carrying the treasury through taxes.
The entrance of new players in the market over the years has not been easy, however, new players have opened up shop in the country to polish and do small jewellery manufacturing.
Namibia produced US$914 million (N$15 billion) worth of rough diamonds last year.
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