James Allen News Center

De Beers will soon begin "fishing" for rough diamonds, according to National Jeweler magazine this week. The diamond cartel will try its hand at marine diamond mining again, this time in South Africa. "Peace in Africa," the first of its kind to operate in South African waters, was christened this past Friday. It will allow De Beers to mine for underwater diamonds in the Atlantic Ocean off Namaqualand in the Northern Cape Province. De Beers is currently mining marine diamonds off the coast of Namibia, which brings in more than half of the nation`s total production. The new vessel is equipped with an "undersea tracked mining tool called a `crawler` and also has a specialized recovery treatment plant on board." The project is a billion rand (about $141.6 million) investment.The project is expected to begin in June and substantially contribute to South Africa`s economy. It is estimated that approximately 240,000 carats per year will be uncovered. De Beers may add more vessels in the area if production exceeds expectations, the company says.