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9 Sep 2008 07:00
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9thΒ SeptemberΒ 2008
GEM DIAMONDS LIMITED
("Gem Diamonds" or the "Company")
CEMPAKAΒ MINE RECOMMENCES OPERATIONS
Gem Diamonds isΒ pleased to announceΒ thatΒ subsequent to negotiations with the local provincial authorities,Β mining at the Cempaka mine in South Kalimantan, Indonesia,Β hasΒ recommenced.
Approval to recommence mining was given by the Government of theΒ SouthΒ KalimantanΒ ProvinceΒ after the revised environmental impact assessment, environmental management plan and feasibility study were approved byΒ local authorities as well asΒ by theΒ Central MinesΒ Department inΒ Jakarta.Β The approval is for an initial six month probationary period subject to certain environmentalΒ monitoring.Β
The Government has stated that the Cempaka mine currently provides proper water treatment facilities which are in accordance with prevailing regulations.Β
The ongoing treatment of water through these facilitiesΒ will not materially increase mining costsΒ at the Cempaka mine.
In line with Gem Diamond's commitment to best practiceΒ environmentalΒ issues management, theΒ CompanyΒ elected to temporarily suspend miningΒ in April 2008 after issuesΒ with regards to waste water dischargeΒ wereΒ raised by the regionalΒ Government of theΒ SouthΒ KalimantanΒ Province. In total mining was suspended for four months.Β
For further information:
Gem DiamondsΒ Limited
Richard Chetwode
Tel: +44 203Β 043Β 0290
Gem Diamond Technical Services
Angela ParrΒ
Tel: +27 11 560 9600
Pelham PRΒ
Candice Sgroi
Tel: +44 207 743 6376
James Henderson
Tel: +44 207 743 6673
About Gem Diamonds
Gem Diamonds Limited (LSE: GEMD) is a global leading diamond producer that is pursuing an accelerated growth strategy through targeted acquisitions and the development of existing assets. Gem Diamonds portfolio comprises producing kimberlite, lamproite and alluvial mines, development projects and exploration assets. Operations are situated inΒ Angola,Β Australia,Β Botswana, theΒ Central African Republic, the Democratic Republic of Congo,Β LesothoΒ andΒ Indonesia. Gem Diamonds produces some of the world's most remarkable white diamonds from its LetΕ‘eng Mine and rare fancy yellow diamonds from its Ellendale Mine and an array of coloured diamonds from its Cempaka Mine.Β
Established in July 2005,Β Gem Diamonds listed on the main board of the London Stock Exchange in February 2007 raising US$635 million. It is currently capitalised at approximately US$1.1 billion and had US$184 million of cash on its balance sheet at 2007 year end.Β
For further information about Gem Diamonds visitΒ www.gemdiamonds.com.
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