Tahera Diamond gets court nod to sell Jericho Mine

Canada-based Tahera Diamond Corporation and its wholly owned subsidiary, Benachee Resources Inc., have officially put its Jericho Diamond Mine in Nunavut, Canada, and all related assets, up for sale.

The company has set up a website for interested parties, and will be conducting site tours next month, it said in a statement on Monday.

It has also provided a d raft purchase and sale agreement on the website, which also contains information regarding the sale process, the mining and exploration assets, reclamation licenses and bonds, various feasibility and engineering reports as well as the companies' consolidated financial, operating and corporate history.

Proposals should be submitted by 1 March, and f inal settlement of a purchase and sale agreement will occur during early March with a planned closing date of 30 March 2010, the statement added.

The diamond mine's accompanying assets include Tahera's 50 per cent joint venture with De Beers on lands overlying the diamondiferous Muskox kimberlite complex, and 75 per cent of a joint venture with Kennecott on lands encompassing the diamondiferous Anuri kimberlite complex.

The Jericho diamond mine became operational in 2007 and has so far produced more than 786,000 carats of gem quality diamonds,  including over 1,100 stones greater than 10 carats and one stone greater than 58 carats.