AKD Limited

Category: Organisation
Sub Category:Public Company
Subject Matter:Mining and Minerals
URL: http://www.akd.net.au/
Summary Information:
AKD has been listed on the Australian Stock Exchange (ASX) since December 1993 and has been involved in the exploration and development of mineral projects, in particular diamonds, since incorporation.
Detailed Information:

AKD Limited was a participant in the exploration and development of an offshore diamond project in the Cambridge Gulf with CRAE between 1994-1996. AKD also participated in other onshore diamond projects with CRAE in the Ellenbrae region in the Kimberleys of Western Australia. More recently, AKD Limited became involved in a joint venture with Ashton Exploration JV, being Rio Tinto and Ashton, in a diamond project near Seppelt Range in the Northern Kimberley adjacent to Striker's diamond discoveries. As a result of this JV, Rio Tinto and Ashton became AKD's 6th and 5th largest shareholder respectively.

Following Rio Tinto's recent takeover of Ashton, Rio Tinto is now beneficially AKD's 2nd largest shareholder. In addition, AKD is in joint venture with Rio Tinto in the exploration and development of a large phosphate deposit in the Tennant Creek region of the Northern Territory. Since 1996, AKD through its subsidiary Terrace Gold NL and in conjunction with JV partner North Ltd, has been exploring and developing a + 400mt Cu - Au porphyry deposit in the Yanacocha region of Northern Peru. In August 2000, AKD commenced the exploration of the Abaete diamond project, a significant alluvial diamond project in the State of Minas Gerais, Brazil. Subject to favourable exploration results and feasibility studies, AKD plans to develop the Abaete project into a viable commercial diamond operation within 3 years.

Related Entries

  • Balangarra Agreement - Signatory
  • Organisation
  • Rio Tinto Limited

  • Glossary

    Public Company