It’s been reported that one of the world’s largest diamond producers, Angola’s, Catoca,has signed an agreement with Zimbabwe to start mining for gems at two fields.Angola is the fourth largest diamond producer in the world by value, and the sixth largest diamond producer by volume.
The Catoca mine dominates Angola’s diamond industry. It is partially owned by Russia’s,Alrosa, and Angola’s, Endiama, and it produces almost three-quarters of all diamonds extracted in Angola. Mining activities are scheduled to being some time in 2014.
Reportedly the bonanza was discovered way back in the 1970’s, but the country kept the discovery quiet because other diamond mines in the country were already turning a windfall profit. The mine is said to be located beneath a 62 mile wide asteroid crater in eastern Siberia called, Popigai Astroblem. This crater is 35 million years old!
