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Botswana diamond mine sold for $8.1m at online auction

After its liquidators failed to secure viable offers via conventional bids.

A diamond mine in Botswana sold for $8.1 million at an online auction after its liquidators failed to secure viable offers via conventional bids.

Online bids for Lerala Diamond Mine opened on May 24 and closed at 5 p.m. local time Wednesday. Lerala, which is owned by Sydney-based Kimberley Diamonds, was placed under judicial management in June last year due to weak sales and high operating costs.

“I can confirm the winning bid was $8.12 million but beyond that I cannot comment on the identity of the bidder nor any other information, until the liquidator gives me the go ahead,” John Taylor, an associate director at auctioneers GoIndustry DoveBid South Africa, said by phone.

© 2018 Bloomberg

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