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Diamcor Mining (TSXV:DMI,OTCQX:DMIFF) announced its Krone-Endora at Venetia project had been granted a mining right by the South African government. The project is lovated directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa.
According to the press release:
The Mining Right has a 30 year term and grants the Company the sole and exclusive right to mine and recover diamonds over areas initially targeted by the Company encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project.
Dean Taylor, CEO of Diamcor, said:
This is a significant achievement for the Company, our Black Economic Empowerment Partner, the South African Department of Mineral Resources, local government, and the people in these areas that have and will continue to benefit from the economic development associated with this Project. With the mining right in place, we look forward to advancing the Project to the next stages of development, and in so doing create value for all stakeholders while creating new direct and indirect jobs that contribute to the socio-economic development of the Limpopo region and South Africa in general.
Click here to read the Diamcor Mining Inc. (TSXV:DMI,,OTCQX:DMIFF) press release
Click here to see the Diamcor Mining Inc. (TSXV:DMI,,OTCQX:DMIFF) profile.