Lucara announces appointment of boteti ceo and diamond
marketing
arrangements with the government of the rEpublic of boTSwana
June 29, 2010 (LUC ? TSXV) ? Lucara
Diamond Corp. (?Lucara?
or the ?Company?) and partner African Diamonds Plc (?AFD?) are pleased
to announce the appointment of Ribson Gabonowe as CEO and with the conclusion of diamond
marketing arrangements with the Government of the Republic of Botswana
(?GRB?) for Boteti Mining (Pty) Ltd (?Boteti?) AK6 project in Botswana.
Lucara, the project operator, holds a 60% interest in
Boteti and AFD 40%.
Lucara is pleased
to report, that Mr Ribson Gabonowe
has accepted the appointment as Chief Executive Officer of Boteti.
Ribson brings many years of experience as Director of
Mines in Botswana,
where he was responsible for the administration of mineral licenses and
involved in negotiations of major mineral agreements for diamonds,
copper/nickel, soda ash and coal. He represented the Government of Botswana in
various mine executive committees and currently serves as a director in coal,
copper/nickel and diamond businesses. Ribson retired
from his recent position of Deputy Permanent Secretary in the Ministry of Local
Government before joining African Diamonds, where he has been for the last two
and a half years. Ribson graduated with a BSc
in Mining Engineering, MSc in Mineral Economics and MBA from Canada, USA
and Botswana Universities respectively.
Subsequent to discussions between Boteti and
the GRB the diamond marketing terms in the Mining License have been
amended. These amendments entitle Boteti to
sell its entire production of diamonds either through open tender sales or
exclusive contract.
Mr. William Lamb, President and CEO of Lucara, commented, ?We are very
pleased that Ribson has joined the Boteti team. His experience will add significant value to
the development of the AK6 mine.?
Lucara
is an African focused diamond production company with currently two mines under
development: the newly commissioned Mothae mine
in Lesotho and the AK6
project in Botswana.
Both projects are known for their large, high-quality, high-value diamonds
including Type IIA stones produced from the Mothae
mine.
On Behalf of the Board,
William Lamb
President and CEO
For further information, please contact:
Sophia Shane, Corporate Development (604) 689-7842