Lucara Announces Appointment of Boteti CEO and Diamond Marketing Arrangements With the Government of the Republic of Botswana
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 29, 2010) - Lucara Diamond Corp. (TSX VENTURE:LUC)("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