De Beers Sells Brazilian Assets To Black Swan
September 10, 02
Black Swan Resources has acquired Mineracao do Sul Ltda., a wholly owned Brazilian subsidiary of the De Beers Group for $1 million. Mineracao do Sul assets include the Canastra-1 diamondiferous kimberlite body, a complete database of airborne and ground-based geophysical surveys, drill data and mineral chemistry analyses, land rights and an extensive portfolio of mineral licenses within the Serra da Canastra Kimberlite Province of Minas Gerais, Brazil. The purchase of Mineracao do Sul is a very important acquisition for Black Swan and now provides a portfolio of mineral licenses covering the entire Serra da Canastra Kimberlite Province. These licenses cover an area in excess of 50,000 hectares, and are especially relevant to Black Swan as it also holds a large portfolio of contiguous licenses. Together, these two portfolios comprise an area of over 100,000 hectares in the only region of Brazil with demonstrable bedrock diamond deposits and where numerous untested, high-priority kimberlite targets have already been identified.