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DIAMOND EXPLORATION

Since 2000, the diamond mining industry has spent almost US$7 billion on exploration. To date, these efforts have yielded relatively meagre results: only one diamond deposit of significant size (Bunder, in India) has been discovered during this period, in addition to other smaller deposits such as Orapa AK6 in Botswana (now the Karowe mine), owned by Lucara Diamond Corporation.

Today, the majority of diamond exploration spend takes place in relatively underexplored African countries such as Angola, the DRC and Zimbabwe, as well as the vast swathes of Arctic Siberia and Canada. While the appetite for exploration remains high (2013 spending was 2.5 times that of 2001), overall spending has still not reached the record levels of 2007, when companies spent almost US$1 billion on diamond exploration