Mining Weekly reported that Emu Nickel formed a joint venture vehicle with El Nino Mining Proprietary in South Africa in order to buy a diamond operation.
As quoted in the market news:
The JV vehicle would purchase all of the issued capital in Superkolong Proprietary (SK), which, in turn, holds a 30.4% interest in Kimberley Miners Forum Proprietary (KMF).
KMF has purchased a number of coarse, diamondiferous kimberlite tailings dumps, while SK operates a diamond tailings processing and recovery plant on land leased from diamond giant De Beers.
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