Kimberley Consolidated Mining, a new mining company which is preparing an application to list on the JSE Securities Exchange, has entered into a joint venture with Tawana Resources to explore the 266sqm Carter block around De Beers Finsch mine in the Northern Cape. KCM was formed earlier this year through the merger of Channal Mining and Kimberley Consolidated Mining & Exploration.

 The application to list on the JSE was still at early stage documentation but it was hoped the listing could occur by November. Channal had been mining for diamonds in the Taung area of the Northern Cape for 12 months and has produced 2 000 carats, fetching an average price of US$1 200/carat. It also has rights to prospect on other properties. Kimberley Consolidated Mining & Exploration's main asset was the Carter block. KCM was currently negotiating the acquisition of the Rietvlei diamond mine from a company called Bo-Karoo.