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Diamond joint venture poised to go public

China Daily | Updated: 2013-03-29 15:38

Anhui Foreign Economic Construction Group of China and the Democratic Republic of Congo created a joint venture to mine diamonds in Eastern Kasai province and plan to take the company public.

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 DRC Mines Ministry's website.

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.

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