Mining

The 162 Group has a long history in mining exploration. The Group was one of the principal players in the creation of Tara Mines in the 1970’s which is now one of the world’s largest zinc mines. The Group was also one of the initial investors in Kenmare Resources, accounting for 7% of world ilmenite supply, which is a listed company worth in the region of $1.4 billion. The group has remained true to its heart and continues to invest in Irish zinc where it holds a number of world class prospective sites through AIM listed company Connemara Mining. These are being developed in partnership with Teck and other companies.

Since the 1980’s the group has been heavily involved in the diamond and gold sector.  The original diamond vehicle, African Diamonds developed deposits in Botswana, Sierra Leone and Guinea. It was recently very successful in finding a kimberlite mine in Botswana, one of only 20 hard-rock diamond mines found worldwide. This was a successful partnership with De Beers and later Lucara, part of the Lundin Group. Another successful spin out from the 162 stable has been  Stellar Diamonds, listed on AIM.  As a result of the experience developed the group has a strong technical team in African diamonds, including experience of Paleo-placer deposits. Overall the staff has an accumulated experience of nearly 200 man-years in exploration, development, mining and/or marketing diamonds. The Group is now using these accumulated skills through its latest venture Botswana Diamonds, listed on AIM; active in Botswana, Cameroon and Zimbabwe.

Gold has also been a fruitful venture for the group. The group recently divested its interests in Swala a gold exploration vehicle in Africa; now listed on the Toronto Exchange as Concordia Resources. It was also the instigator behind Mwana Africa in Zimbabwe. Further opportunities continue to occur in the sector which the group is watching closely.

162 Clontarf Road, Dublin 3, Ireland
Ph: +353 1 833 2833
info@162group.com
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