�Lerala Mine was run from Australia�

Lerala Mine was put in final liquidation two months ago
Lerala Mine was put in final liquidation two months ago

All strategic decisions regarding the running of Lerala Mine were taken in Australia, a situation that made it difficult for the local management to execute their duties effectively, provisional liquidator of the collapsed mine says in a report.

The mine was put under provisional liquidation by the High Court in June this year, with final liquidation confirmed in September.

Provisional Liquidator, Kopanang Thekiso said discussions with the local directors of Lerala Diamond Mine together with some of the officers of the company reveal a story of a company that seemed to lack a cohesive strategy and direction of how and what it actually wanted to achieve.

Editor's Comment
Botswana at a critical juncture

While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...

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