Country Report Central African Republic August 1997 Main report

Economy: United Reef continues to invest, despite instability

The Canadian diamond mining company, United Reef, has continued to develop its operations in the CAR, in spite of the continuing violence in Bangui. Its Bamingui and Bangoran river alluvial concessions are in the north of the country, well away from the troubles in the capital. A new gem recovery system, with the capacity to process 30 tons of gravel per hour, has now been installed at Mbala to service Bamingui. Monthly output of diamonds is expected to be 600-800 carats. Since it started mining in September 1995, United Reef has produced 5,731 carats from Bamingui at an average price of $182 per carat. The South African firm, Trans Hex, is also active in the area.

© 1997 The Economist lntelligence Unit Ltd. All rights reserved
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