American company acquires GCD

An American company, MAR d'Gold Corporation, has acquired the Ghana Consolidated Diamonds Limited, an official statement announced in Accra on Friday.

The statement said the buyer is an international company that specialises in all-commercial aspects, associated with precious metals and gems.

"It also provides comprehensive business associated with the buying, marketing and distribution of precious metals on the international market."

The Akwatia-based GCD has faced stiff competition from diamond winners who have been encroaching in their concession.

The statement quoted the Minister of Trade and Industry, Dr Kofi Konadu Apraku as saying he hopes MAR d'Gold would reorganise GCD.

The Chief Executive of MAR d'Gold, Ms Maria Socorro Araneta, said they have "very good plans for the environment" and intend to develop the area.