Huge Investment Needed to Raise Production in DRC to 8 Million Carats

(IDEX Online News) – London-based mining company Mwana Africa Plc has said that it will cost almost $100 million to fully implement plans to increase production at its joint venture with the Democratic Republic of Congo’s state-owned diamond miner, the Societe Miniere de Bakwanga, or Miba, reported Bloomberg.

According to the news site, Miba, has the potential to increase annual diamond output to 8 million carats, up from the 500,000 carats that are currently being produced, Mwana CEO Kalaa Mpinga told Bloomberg TV Africa.

Mpinga said the operation will have to significantly alter its production model to target the kimberlite deposits rather than continuing with the current alluvial mining program. . “We are confident that it has a large resource and that it can be done.”

Bloomberg reported that Mwana, which also mines nickel and gold in countries including Zimbabwe and South Africa, is in talks with Congo to recapitalize Miba.

Mwana has a 20-percent stake in Miba.