Diamcor Mining and De Beers have finalized all the requisite steps for Diamcor to acquire De Beers' Krone Endora diamond project, the diamond companies announced Wednesday.

The Krone Endora project lies adjacent to the Venetia Diamond Mine in South Africa's Limpopo Province, generally considered the largest diamond producer in the country and the third-largest diamond mine in the world.

De Beers' exploration at the Krone 104 and Endora 66 sites has indicated resources of over 54 million tons of diamondiferous ore and some 1.3 million carats of rough diamonds.



Moreover, a technical report filed by De Beers in June 2009 stated that the Krone Endora project contains not only an alluvial layer, believed to be formed through rain carrying deposits from the Venetia mine, but also an eluvial – lower – deposit, most likely the result of a geological event. These factors mean that diamonds are deposited more or less uniformly throughout the site.