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LAF
LOLAF
Lonrho Africa Plc - 235 Carat Diamond Recovered In South Africa
Lonrho Africa Plc
(Incorporated and registered in England and Wales)
(Registration number 2805337)
(Share code: LAF; ISIN number: GB0002568813)
("Lonrho Africa" or "the Company")
235 CARAT DIAMOND RECOVERED IN SOUTH AFRICA
Lonrho Africa is pleased to announce that Nare Diamonds Limited ("Nare")
has recovered a very rare 235 carat diamond from its Schmidtsdrift Diamond
Mine in South Africa. The large-sized gemstone is octahedron in shape and
of very good quality according to a third party assessor.
"This is a substantial find as diamonds of this size are a very rare
occurrence" Nare"s Chief Executive Officer, Mr. Charles Mostert, said
today.
Lonrho Africa acquired a 17% stake in Nare on the 11th April 2006. Lonrho
Africa"s Chief Executive Mr David Lenigas is to become non-Executive
Chairman of Nare.
"Lonrho Africa views the timing of the Nare investment as very fortuitous
and the discovery of such a large gem diamond shows the potential for
considerable upside on this investment", said David Lenigas.
NARE DIAMONDS LIMITED
Nare is headed up by Mr Charles Mostert (ex Director of Crown Diamonds
which was taken over by London listed Petra Diamonds PLC) with diamond
interests consisting of a combination of production and exploration
projects in South Africa. These projects are the Schmidtsdrift Diamond Mine
(80% interest), the Klipspringer Joint Venture (20% interest), the Groen
River Project (100% interest) and the Kamfersdam Kimberlite Pipe and
tailings operation (100% interest).
Diamond production at the Schmidtsdrift Mine commenced in March 2006. The
mine is located some 80km north west of Kimberley in the Northern Cape
Province and consists of 31,227 hectares of highly potential diamondiferous
gravel deposits. Previous mining activities at Schmidtsdrift yielded 33,679
carats with an average stone size of 1.14 carats.
Infrastructure on the Schmidtsdrift Mine is well developed and the asset
inventory includes state-of-the-art diamond recovery plant and equipment.
Mining operations are sub-contracted to experienced operators.
Nare"s second diamond operation, the Kamfersdam tailings operation, is
expected to be commissioned by 1st May 2006.
For further information, please contact:
Lonrho Africa Plc
David Lenigas, Chief Executive +44 (0)7881 825 378
Emma Priestley, Executive Director +44 (0)7867 785 177
Strand Partners Limited +44 (0)20 7409 3494
Simon Raggett +44 (0)7769 883 666
Cardew Group +44 (0)20 7930 0777
Nadja Vetter +44 (0)7941 340 436
Eden Mendel +44 (0)7866 525 836
Emma Consett +44 (0)7971 468 308
21 April 2006
South African sponsor to Lonrho Africa Plc
Java Capital (Pty) Limited
Date: 21/04/2006 03:37:19 PM Produced by the JSE SENS Department
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