DIAMOND PAGE — Rex tests African project

Producer Rex Diamond (RXD-T) has secured permits to explore two concessions in the northwestern African country of Mauritania.

The land package covers 46,700 km in the northwest part of the country, whereas the permits cover the core of the Archean-age Reguibat craton, which has yet to be systematically explored for diamonds.

Rex, which began its field operations at the concessions in July, has also opened an office in Nouakchott, the capital city. The current program includes both geophysical surveys and sampling for kimberlite indicator minerals. Several bull’s-eye-type anomalies have been detected.

The exploration effort is headed by Luc Rombouts, a Belgian diamond expert.

Rex recently expanded its diamond portfolio by forming a South African joint venture with a national company to begin prospecting and mining alluvial deposits on a farm near Kimberley, in Northern Cape province.

The agreement calls for the company to control both the security and marketing of stones recovered from the operation. Rex currently operates three gem-quality fissure diamond mines in South Africa. Two of these, Ardo and Bellsbank, produce at a cost of less than US$25 per tonne. Rex also operates sorting and marketing facilities in Antwerp, Belgium, and has other exploration projects in South Africa and Sierra Leone.

Rex produced 12,063 carats for the quarter ended Sept. 30, compared with 9,838 carats in the previous quarter. The increase is attributable to a capital development program and a return to full-scale mining.