According to Mining Weekly, Cameroon hopes to become a significant diamond exporter in 2010 when it starts mining deposits discovered in the country’s southeast sector.

A joint Cameroon-Korean company, C&K Mining Inc discovered the gem-quality diamonds at Mobilong, which is near the Congo Republic and the Central African Republic borders.

Mining Weekly quotes Director of Mines and Geology Oscar Matip: "The probable diamond reserves are estimated at 736-million carats and will make Cameroon a leading diamond exporter when exploitation begins before the end of 2010 as we expect.”

During the first year diamond output is expected to reach about one-million carats but the yield is expected to rise to six-million carats.

The joint venture was formed in 2005 between South Korea's C&C Mining and the government of Cameroon. The Korean firm owns 80% of shares and Cameroon 20%.