Lucara Diamond Corporationhas agreed to buy exploration company African Diamonds for CAD 82mn in a dealthat will enable both companies to benefit from the AK6 diamond discovery inBotswana, it was reported. The deal will see shareholders get CAD 0.80 of aLucara share and 1 share in a new company, Botswana Exploration plc, for every1 share in African Diamonds. As a result, African Diamonds will own 26.6% ofLucara, which will wholly own AK6. African Diamonds chairman John Teeling saidthe logic of the deal is compelling and that marrying the two companies willcreate a CAD 240mn emerging diamond producer controlling two new kimberlitediamond mines.
South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more
South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more
Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more