DiamonEx has applied for permits to search for diamonds in northwest Larimer County, Colorado. If created, it would be the only active commercial diamond mine in the United States. According to DiamonEx, the site is capable of producing tens of thousands of diamonds.
Mike Seed, DiamonEx’s exploration manager, noted that at this initial stage the company is only requesting permission to explore the area and not to mine.
Seed stated: “Exploration for diamonds requires that a bulk sample be taken and we intend to take up to a maximum of 20,000 tons of free digging material from scattered small pits across the prospect which will allow the company to evaluate if there are enough diamonds in quantity and quality to support any mining venture. “
If the site proves to be economically viable, the company will then need to submit detailed plans and seek county and government approval to get a diamond mining license.
The area is thought to be replete with diamonds because of volcanic activity. Ten years ago diamonds poured out of the Kelsey Lake mine near the Colorado-Wyoming border. The fifth largest diamond ever found in the U.S. came from that mine.
People living in the area are opposing the project, claiming that a diamond mine in the vicinity would be highly disruptive due to an enormous amount of dust, frequent explosions and constant light.
The company reportedly plans to hold a meeting with the neighbors on Sept. 20.
DON Price at posting:
19.0¢ Sentiment: Hold Disclosure: Held
