Cameroon To Start Diamond Mine In 2010

Cameroon is expected to start mining diamonds next year.

Oscar Matip, the Director of Mines and Geology at the Ministry of Industry, Mines and Technological Development told reporters on the 25th that “mining could begin a year from now.

The  deposits were discovered in the Mobilong area in south-eastern Cameroon. The deposits are close to the borders with Central African Republic and the Republic of Congo, that are both well known for their diamonds.

The diamond output from the mine is expected to be 6 million carats per annum.

The exploration which was carried out by C&K Mining which is a joint-venture between a South Korean company and the Government of Cameroon. C & K is 80% owned by the Korean firm while to Government of Cameroon owns 20%. The exploration was carried out in 2008. The diamond reserves are estimated to be about 736 million carats. The diamond mining industry is also expected to provide over 3000 direct jobs.  The mining project is also expected to boost the socio-economic status of the people living in the region by the construction of new roads, hospitals, transport, water points and schools.

According to Reuters the worlds biggest diamond miner Debswana has the capacity to produce 33 million carats per year.

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