The highest bid in the online auction for Lerala Diamond Mine, one of the four fully privately-owned diamond mines in Botswana was for a sum of US$8.1 million, officials involved in the process have said, according to media reports.

The buyer who placed the winning bid has not yet been identified, though the provisional liquidator of the mine, as well as a representative of the auctioneers GoIndustryDoveBid South Africa, have confirmed the value of the winning bid while speaking to the media.

Kopanong Thekiso, the provisional liquidator, has been quoted as saying that the highest bid has been accepted and the sale will be formally confirmed after the money has been received.

Formerly owned by Australian miner Kimberley Diamonds, the mine was placed under provisional liquidation last year following judicial intervention as the Company reported a growing gap between sales and operating costs.

As reported earlier, the winning bidder will secure mining and water rights, five Kimberlite pipes ranging from 0.16 hectares to 2.35 hectares in area, a 200 metric tonnes per hour processing plant and a 4.2 megawatt diesel generator, among other assets.

The mine is estimated to have five million tonnes of probable reserves at a grade of 31 carats per 100 tonnes, reports stated.