etruscan enters the diamond fray in south africa
29 October 2007

Canadian mining company, Etruscan is gearing up to be a major diamond producer in the Ventersdorp Alluvial Diamond District about 150 km west of Johannesburg in South Africa.

The company is to list its newly created subsidiary, Etruscan Diamonds Limited on the Toronto Stock Exchange and the Johannesburg Stock Exchange soon, following a pre-IPO private placement financing of C$11 million in March this year. Anthony Hayes, Etruscan's director of investor relations on Friday said "Etruscan Diamonds is the path to unlock the diamond asset value" on properties being acquired by the company along the 5 000 square km diamond belt that has never been commercially exploited, although it has a known production of 667 000 carats from 1926 to 1984.

Hayes, who was speaking in Toronto at a seminar on mining investment in Africa, said Etruscan intends to "establish a dominant land position" in Ventersdorp.

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The Southern African website