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xxtscon Jun 10, 2011 3:48am
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MInesitehttps://minesite.com/news/vaaldiam-minings-brauna-kimberlite-diamond-project-in-brazil-begins-to-shape-up-as-a-serious-mining-proposition
June 10, 2011
Vaaldiam Mining’s Brauna Kimberlite Diamond Project In Brazil Begins To Shape Up As A Serious Mining Proposition
By Charles Wyatt
Witha name like Vaaldiam Mining one’s mind immediately zeroes in ondiamonds in South Africa, but that would be a mistake. VaaldiamResources, as it was known in 2004 when Minews first wrote about it, hasbeen chasing diamonds in Brazil for several years. Ken Johnson, who wasthe chief executive at the time, explained back then that although‘Vaal’ comes from the Vaal River, which is the birthplace of diamonds inAfrica, the focus was on the State of Rondonia in Brazil, where adiamond rush had resulted, following the discovery of two kimberlitepipes by garimpeiros on the Rooseveld Indian Reserve in 2002. Thesepipes, 15 kilometres along the Lajes river from the Pimenta Buenoproperty owned by Vaaldiam, and the associated downstream alluvialdeposits, were producing at a rate of 100,000 carats per month only twoyears later. In a very short time Rio Tinto, which had relinquished thePimenta Bueno property in late 1900s changed its mind and agreed tore-acquire a controlling interest in the property by spending a total ofUS$12.5 million over three years.
Thisis all old history but it demonstrates that Ken was quick on his feetand usually in the right place at the right time. Now the focus is onVaaldiam’s 51 per cent interest in the Brauna diamond project in theState of Bahia and Robert Jackson, a mining engineer, has taken over aschief executive, though Ken is still in charge of operations in Brazil.This project covers 50 square kilometres and consists of threeexploration concessions which encompass four diamondiferous kimberlitepipes...