Diamonds might be a girlâ€™s best friend, but for Midex Gold Corp., a diamond is a call for enhanced security and exploration. Midex is focused on building a portfolio of near-term gold and diamond production projects utilizing its established relationships in the mining industry, as well as with government officials in Tanzania.
The company recently announced the vendor of the companyâ€™s recently acquired Magembe Diamond Property reported that local miners recently discovered an 80-carat diamond, prompting mixed reaction from Midex.
“This is one of those good news, bad news stories,” the company stated in the press release. “It’s good news that we’ve had reports of a huge diamond along with numerous other large diamonds being discovered on our property. The bad news is that the local artisan miners are taking our diamonds without us knowing. To discourage them from continuing to take them, we’ve implemented on-site security.â€
The Magembe Diamond Property is 46-square kilometers and sits adjacent to the worldâ€™s largest diamond pipe. According to Midex, the property consists of several prospecting licenses located adjacent to the eastern, northern and western borders of the Williamson Mine, one of Africaâ€™s most significant producers.
“We’re convinced this project is a once in a lifetime opportunity,” said a Midex representative. “We walked the property and reviewed the exploration data with some top resource industry experts and their excitement was contagious. Management is enthusiastic about the huge opportunity this property represents, and humbled by the confidence shown by our local partners.”