DiamondCorp is preparing to acquire Sonop Diamond Mining (Pty) Limited, a private alluvial diamond company in South Africa, by next year.

As mentioned by Mr. Paul Loudon, Managing Director and Chief Executive Officer of DiamondCorp, this take over would further DiamondCorp’s strategy to expand operations in South Africa, building it into one of the largest AIM-listed diamond producers.

DiamondCorp’s offer to Sonop includes US$45 million cash along with 7.5 million ordinary shares of 3 pence each. DiamondCorp is based in London and is reputed as one of the upcoming diamond producers.