DBCM announces to sell TMRs

The De Beers Consolidated Mines (DBCM) which had announced its intent to sell the Kimberley Tailings Mineral Resources (TMRs) in February 2007, said that it will now sell it to Small Miners Forum (SMF). According to De Beers, the retreatment of old TMRs has been a major source of production in the Kimberley area since 1978.

De Beers acknowledged that although the TMRs are very valuable, mining was not profitable under its current overhead cost structure. However, it also stated that a company with a different cost structure could tap the value of TMRs. SMF was chosen based on its strong empowerment credentials, its activities in the Kimberley area and technical capabilities.

Jahn Hohne of the SMF mentioned, "It is gratifying that De Beers recognises and values the working relationship it has with the four small miners that make up the SMF. We are delighted that, following a rigorous selection process, a group of local Kimberley companies presently engaged in mining the TMRs have been selected as the successful bidder by De Beers to mine the TMRs for our own account.” The TMRs were the outcome of the mining and processing of kimberlites in the Bultfontein, Dutoitspan, De Beers, Kimberley and Wesselton mines.