Reuters
London-listed Vast Resources said on Tuesday it had pulled out of a $4 million deal to buy Ghaghoo diamond mine in Botswana from Gem Diamonds, without giving reasons. In August, Gem Diamonds entered into a binding share sale agreement with Okwa Diamonds, a joint venture between Vast Resources and Botswana Diamonds, for the sale of the mine which has been under care and maintenance since 2017. "The company has informed Botswana Diamonds and Gem Diamonds of its intention not to proceed with the acquisition of Ghaghoo," Vast Resources said in a notice to shareholders.