De Beers Group Completes Successful Sale of Buffels Marine Mining Right

De Beers Group Completes Successful Sale of Buffels Marine Mining Right

De Beers Group has recently announced the completion of the sale of the Buffels Marine Mining Right and its associated assets to Kleinzee Holdings Proprietary.

This transaction took place on 7th August 2023.

The Buffels Marine Mining Right was the final mining right owned by De Beers at Namaqualand Mines. Following the cessation of operations on the Buffels Marine Mining Right in 2010, De Beers has been actively engaged in rehabilitation activities while searching for a responsible operator for the mining right.

Kleinzee Holdings, a consortium led by Melki Mining and HolGoun Investment Holdings, emerged as the successful bidder through an extensive sale process. Kleinzee Holdings demonstrated a wealth of mining experience and possessed the necessary resources to operate and further develop the mine. Moses Madondo, the Managing Director of De Beers Group Managed Operations, expressed satisfaction with the transfer of the Mining Right to Kleinzee Holdings, as the new operators resume mining operations and pave the way for economic growth and employment opportunities. Madondo extended gratitude to everyone involved in successfully concluding the transaction, emphasizing the potential for a new future in the region.

Thiru Govender, the Chairman of Kleinzee Holdings, expressed delight in the swift acquisition of the Mining Right from De Beers through a competitive bidding process. Govender highlighted their consortium’s capabilities, expertise, and experience to reopen and manage the Buffels Marine Mining Right successfully. Recognizing the challenges associated with operating a mine that has been undergoing rehabilitation since 2010, Govender assured their commitment to ensuring the mine becomes operational as soon as possible, bringing much-needed employment and economic stimulation to Kleinzee and the neighboring towns. Govender also conveyed appreciation to the De Beers team for their professionalism and cooperation throughout the transaction.

During the month of August, De Beers has been collaborating with Kleinzee Holdings to facilitate a smooth and responsible handover of the Buffels Marine Mining Right. De Beers maintains its commitment to investing in exploration activities in the Northern Cape Province and aims to create a positive legacy in the region.

This commitment is exemplified through investments in socio-economic development projects focused on education, skills development, and job creation.