Congo, Anhui Plan to Take JV Diamond Company Public

Bloomberg reported that the Democratic Republic of Congo and China’s Anhui Foreign Economic Construction Group created a joint venture to mine diamonds in the province of Eastern Kasai and have decided to take the company public.

As quoted in the market news:

The 50-50 venture between Anhui and the central African country may produce 6 million carats a year by 2016, according to documents published on the Mines Ministry’s website yesterday. Anhui, based in Hefei, will pay $4.2 million for its half, plus a signing bonus of as much as $61 million, and invest an estimated $100 million in infrastructure, the documents show.

Click here to read the full Bloomberg report.