SA Budget Allocates $26.5 Million to Alexkor Over Three Years

Alexkor, the South African government-managed diamond mine, will be allocated R206 million ($26.46 million) in the 2008 budget to “establish a viable mining operation.” The money is to be used only for Alexkor’s coastal operations, where a decade-old land claim battle was recently settled.

The mining operation will be jointly owned with the Richtersveld community, giving effect to the settlement of the restitution claim.

Alexkor also has a marine mining concession.