Friday, May 15, 2009

Geologist Discovers Diamond Deposits 1

Cameroon :
- Geologist Discovers Diamond Deposits

Korean geologist has recently discovered massive diamond deposits in
Cameroon, central Africa. The discovery draws particular attention as
the reserves in the areas of Mobilong and Limokoali are presumed to
reach 736 million carats, equivalent to five times the world's annual
total diamond production.

Kim Won-sa, 55, professor at
Chungnam University, embarked on the exploration from January last
year at the request of C&K Mining, a joint-venture firm between
Korea and Cameroon. Kim reported the exploration result to the
Cameroon government last month, which pledged full cooperation for
the project.

Kim plans to meet with Cameroonian President Paul
Biya early next month to discuss ways of promoting mines development
in the African nation. He will also focus on means to expedite
resources exchanges and cooperation between the two countries.

and the C&K Mining also held a briefing session at the
Intercontinental Hotel, Monday, with some 200 experts, officials and
businesspeople attending. Cameroon's Minister of Industry, Mines and
Technological Development Badel Ndanga Ndinga was also present along
with a group of Cameroonian officials.

The minister expressed
hope that the diamond mines development will facilitate efforts to
alleviate poverty in the African nation while promoting economic
exchange between Korea and Cameroon.

``With open arms we
welcome Korean companies investing Cameroon,'' he said. He said
Korean companies will have many business chances as the African
nation is replete with natural resources like crude oil, natural gas,
steel, uranium and wood, as well as diamonds.

The possible
advancement of Korean companies into Cameroon is also expected to
help promote the Korean government's pursuit of ``resources
diplomacy.'' The Cameroonian minister visited with Minister of
Knowledge and Economy Lee Youn-ho yesterday to discuss ways of
speeding up bilateral trade and investment relations.

Kim said
the production will begin from 2009 in full swing with the annual
exploration of 6,000,000 carats and with the effect of generating
4,000 jobs in Cameroon.

C&K plans to bring in rough
diamonds into Korea for cutting to meet domestic demands. ``We will
also be able to export diamonds and expect promotion of domestic
jewelry markets to a great extent,'' he told The Korea Times.

has engaged in brisk research and exploration activities including
his discovery of titanium deposits in Hadong, South Gyeongsang
Province in 1997. He was cited as one of the ``Outstanding Scientists
of 20th Century'' by the International Biographical Center,
Cambridge, United Kingdom, and has already been named for the 21st
Century group.

Emmanuel Batamag, Freelance Journalist in Yaoundé, the capital
of the Republic of Cameroon

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