Irish firms seeks diamonds in Finland

LONDON, Sept. 2 (UPI) -- A spin-off of an Irish mining company has floated shares in London to fund a search for diamonds in Finland.

Karelian Diamond Resources owns 57 mineral extraction rights in a Finnish geological structure known as the Karelian Craton, near Russia's border, the Guardian reported Friday.

KDR, which was formed last year by the amalgamation of Finnish interests and privately owned Conroy Diamonds, already has carried out extensive preliminary appraisal work and identified 16 new targets for testing and exploration, officials said.