Industry News by Nemesis

Angola Invites South African Companies to Invest in Local Diamond Sector

August 6, 2018

Angola has invited major South African diamond companies to invest in the country, according to a media report.


Mining Weekly quoted Endiama strategic planning and minerals operations bureau head Laureano Paulo as saying during a visit by a delegation of South African businesspeople that their participation in Angola’s diamond industry would add value to the resource.


He said South African companies, which had a “great” tradition in the diamond industry, would assist in the exploration for, and exploitation of, new kimberlites.


Angola’s current national development plan, which was approved last April seeks to boost production to 13.8 million carats a year. 


Angola produced 9.4 million carats last year.


This increase will be driven by the commissioning of various new mines, but particularly by the start of operations at Luaxe.


Luaxe, which had a reported reserve of about 350 million carats in the Luele Kimberlite pipe, would be commissioned this year.


The operation was projected to have a life-of-mine of 29 years.

 

Source: Rough&Polished

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