A Korean geologist has recently discovered massive diamond deposits in Cameroon, . 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 betweenand 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 African nation. He will also focus on means to expedite resources exchanges and cooperation between the two countries.early next month to discuss ways of promoting mines development in the
Kim 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 thedevelopment 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.
Kim 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.
By Shim Jae-yun