Cameroon awarded a
diamond mining licence to South Korea’s CK Mining, requiring the
company to begin development of its Mobilong concession within a year,
according to state television on Thursday.
The Mobilong
concession has probable reserves of 736 million carats of gem quality
and industrial diamonds that could make the Central African state a
leading world diamond exporter, according to drilling results.
CK signed a
mining convention for the deposit with Cameroon in July 2010, setting
out duties and obligations of both parties and paving the way for a
licence. CK Mining is a joint venture between Cameroon and South
Korea, which holds the majority share.
