Industry News by Nemesis

Diamond Prospecting Concessions Extended to Angola’s Malanje Province

June 19, 2016

Angola’s Geology and Mining Ministry has announced the extension of diamond prospecting in the country’s Malanje province on a semi-industrial basis, according to a report on macauhub.com.

 

Artisanal mining cooperatives have been authorized to explore more than 410 kilometers of the province, with the first authorization granted to the Milanda Kunda cooperative, involving the semi-industrial exploration of diamonds in a 30-kilometer square area. Cambo Sungingi cooperative in the Kaombo municipality received the second authorization, which covers an area of 224 square kilometers. The Kabuto cooperative received the third concession, which covers an area of 160 square kilometers.

 

The concessions are valid for a 12-month period and may be extended for a further four years. The cooperatives are required to provide technical and economic reports to Angola’s national diamond company, Endiama.

 

In December, Angola produced and sold 880,100 carats, valued at $104.7 million – an average price of $118 per carat. The Geology and Mining Ministry also released November 2015 figures showing that the country produced 796,700 carats with a value of $99.29 million or $124 per carat.

 

Source: Idex

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