An Australian company, DiamonEx Limited, opened a diamond mine 15 km (9 mi) north-west of the village of Lerala in Botswana.
The mine initially known as Martins Drift Diamond Project opened early 2008 and was to employ 230–290 people to produce an estimated 330,000 carats (66 kg) per year.
[1][2] Previously a joint company between De Beers and the Botswana government operated between 1998–2001 a smaller exploratory diamond mine at the same site.
[3] In February 2009 the mine was placed under Judicial Management due to very high operational costs and the world economic crunch.
DiamonEx, which had already been listed on the Botswana Stock Exchange (BSE) also had the trading of their shares suspended as a consequence.