Business Irish

Wednesday 12 December 2018

Teeling firm to focus on Kalahari

The Milky Way as seen from the Kalahari in Botswana – a number of sites there are to be drilled
The Milky Way as seen from the Kalahari in Botswana – a number of sites there are to be drilled
Ellie Donnelly

Ellie Donnelly

Botswana Diamonds, the exploration firm chaired by veteran investor John Teeling, says work is commencing on the 2018 Alrosa/Botswana Diamonds joint venture in Botswana.

Alrosa is a Russian stock exchange-listed diamond company.

The objective of the work is to follow up on 15 previously identified geophysical targets in the Central Kalahari Game Reserve (CKGR) and turn them into drill targets.

According to a statement from the company, this phase of the work is being supervised by an exploration team from Botswana Diamonds, and is fully funded.

This joint venture, known as the Sunland Minerals joint venture, is one of two such operations that Botswana Diamonds has in Botswana, the other being Maibwe Diamonds.

The board of Botswana Diamonds also told shareholders that, at the Mining Indaba held in Cape Town last week, it was awarded runner up in the Livingstone and Stanley Award for African exploration. Randgold Resources was awarded the first prize.

In addition to its presence in Botswana, the company also has exploration interests in South Africa.

In 2011, the company's chairman Mr Teeling sold his Cooley Distillery business to Jim Beam for more than €70m.

Along with his involvement in exploration companies including Botswana and Petrel, Mr Teeling is also involved in a new venture, the Great Northern Distillery.

Mr Teeling and his family were ranked 250th in the Sunday Independent's 2018 Rich List, worth a reported €45m.

Irish Independent

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