Mobilong diamond mine

The Mobilong mine is a diamond deposit in the East Region of Cameroon.[1]

Mobilong mine
Location
LocationYokadouma
RegionEast Region
CountryCameroon
Production
Productsdiamond

In December 2010, the resource was reported to the Korean stock exchange as being 736 million carats.[2] In 2013, the resource was estimated to have reserves of 416 million carats of diamonds and an annual production capacity of 0.8 million carats. It was owned by C&K Mining, a joint venture between Cameroon and the South Korean state.[1] The adjustment led to legal action in Korea relating to manipulating the stock market. In 2014, a majority interest was sold to a Chinese-American investor.[2]

The deposit was reported to be under revaluation in 2016 to determine exactly what is in it.[3]

Mobilong appears to be one of many failed mining ventures in Cameroon. It got further than most by having a camp and some mining equipment on site.[4]

References
  1. "Cameroon to launch first industrial diamond mine". Mail & Guardian. 23 January 2013. Retrieved 2013-07-03.
  2. "Cameroon: C&K Mining sells assets in Mobilong diamond mining to Chinese-American investor". Business in Cameroon. 26 November 2014. Retrieved 16 July 2019.
  3. Brice R. Mbodiam (16 May 2016). "Cameroon: the revaluation of the potential of the Mobilong diamond deposit has started". Mail & Guardian. Retrieved 2013-07-03.
  4. Freudenthal, Emmanuel (14 March 2016). "Virtual mining in Cameroon: How to make a fortune by failing". African Arguments. Royal African Society. Retrieved 16 July 2019.

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.