News

February 19, 2008

Brazilian Diamonds Sees a Chink of Light on Canastra

By Rob Davies

As a “non-dom” Brazilian Diamonds’ chairman Ken Judge is in a good position to assess the uncertainties caused by politicians taking decisions without really understanding their consequences. Though, as our own sub-Prime Minister Brown has demonstrated, even making a decision can take four months. The politicians that have vexed Brazilian Diamonds though, aren’t our own breed of ne’er-do-wells, but certain incumbents in Brazil. Ever since Brazilian Diamonds bought the Canastra project from De Beers it has been bogged down in its attempts to get an environmental permit for the site. The reason: a dispute about the exact location of a national park boundary lying about ten or twelve kilometres from the site. There was never any question that the property might become part of the park but there was an issue as to whether land on the borders of the park should be subject to some controls to make it a buffer zone. Because of this uncertainty no bureaucrats have been willing to take a decision about environmental permits and the project has been stuck in limbo.

Now though there seems to be some activity. Mr Judge was able to tell Minews after an overnight flight from Vancouver that it looks as if there is some movement on the issue in the legislature. It appears that whatever political issue was at the core of the issue has been resolved and legislation is making its way through both legislative houses to put the issue of the park boundaries beyond dispute. The proposal has passed through the lower house without amendment, and Mr Judge is optimistic...