An alliance is being worked out between Diamond Core – a South African based company and BRC Diamonds of Canada. The new company ‘BRC DiamondCore’ would be a diamond exploration and development company focusing at the African market. The merged entity will be listed on both the respective stock exchanges.

The new company will aim at generating cash flow and high value from its alluvial projects, particularly those in Silverstreams, Uitdraai, De Kalk in South Africa and the DRC’s Kwango River. In the long term run, it will tap the potential of Diamond Core’s Paardeberg East and Skeyfontein resources in South Africa and BRC’s Luboa and Tshikapa projects in the DRC.

Diamond Core’s Chief Executive Officer Theo Botoulas will be the CEO of the new firm while BRC Diamonds’ CEO Michiel de Wit will be the President. BRC DiamondCore will own assets in South Africa, the Democratic Republic of Congo (DRC), and the De Kalk project, where the discovery of South Africa’s first diamond was made in 1866.