Pro Civil to buy Gem’s Ghaghoo mine
LSE-listed Gem Diamonds has entered into a binding agreement with Pro Civil for the sale of 100% of the share capital of Gem Diamonds Botswana (GDB), which holds the Ghaghoo diamond mine, which has been on care and maintenance since March 2017. Under the share sale agreement, Pro Civil will make a one-off upfront payment of $5.4-million for the share capital of GDB. Gem Diamonds will use the sale proceeds for general corporate purposes.