- Business
- Pangolin Diamonds Corp. engages in the acquisition, exploration, and development of diamond mineral properties in Botswana. The company holds interests in the Malatswae Diamond property; the Motloutse Diamond project, comprising eight diamond prospecting licenses; the Kweneng project, covering 361 square kilometers in the Kweneng district; and the AK10 kimberlite in the Orapa field, where it maintains an option to earn up to a 75% interest. Incorporated in 2011 and headquartered in Toronto, Canada, Pangolin Diamonds targets diamondiferous kimberlites through indicator mineral sampling, soil geochemistry, drilling, and bulk sampling across its Botswana licenses. In July 2022, the company entered an agreement to acquire Amulet Diamond (Botswana) Pty Limited, securing plant and equipment assets from the BK11 Mine in Letlhakane, with obligations to remit proceeds to creditor Diacor International Ltd. over an 18-month disposition period. Earlier, in 2018, Pangolin secured royalty funding from Umgeni Holdings International Limited, receiving $1.2 million for a 2.5% gross overriding royalty on diamond sales and 3.75% net smelter return on certain metals across multiple projects; certain Malatswae licenses expired in December 2022.