Industry News by Nemesis

AGD DIAMONDS Takes Part in Mining Conference in Angola

January 2, 2020

Luanda held the 1st Angolan Mining Conference and Exhibition on November 20 and 21, 2019, which was attended by AGD DIAMONDS JSC.

The purpose of this forum organized by Angola’s Ministry of Mineral Resources and Petroleum was to unleash the potential of the national mining sector in terms of investment and diversification, as well as attract investments to the mining sector of Angola.

AGD DIAMONDS was represented at the forum by Viktor Ustinov, Doctor of Geological and Mineralogical Sciences, who is the geology adviser to the company’s CEO. Angola is the fifth largest global producer of diamonds. In 2018, the country reached an output of about 9.2 million carats of diamonds (according to the report of Endiama, the national diamond mining company).


To date, the country identified about one thousand kimberlite pipes, which are combined in 11 areas and 36 fields, as well as numerous diamond placers.


The most promising area for identifying diamond deposits is the northeast region of Angola, which is characterized by a widespread manifestation of primary and alluvial diamondiferous deposits. Large diamond deposits have been discovered in this area, which are the Catoca and Luele diamond pipes.


Nine alluvial deposits are being developed on an industrial scale. Alluvial diamonds are known for their highest value. For example, the value of diamonds mined by Lucapa Diamond at the Lulo concession is $ 1,900 per carat, one of the highest in the world.

The 1st Angolan Mining Conference and Exhibition attracted mining experts from various countries. Dozens of companies came to take part in the forum and the number of participants exceeded 600 people. The forum was attended by João Lourenço, President of the Republic of Angola; Diamantino Pedro Azevedo, Minister of Mineral Resources and Petroleum, as well as by leading experts from the global mining sector.

Angolan and foreign experts made a number of reports on the geology and diamondiferous potential of Angola, the latest changes in the country's legislation on the use of subsurface resources. The forum was a good platform for discussing various issues of cooperation in the extraction and acquisition of various types of minerals, including diamonds.


Victor Ustinov met with the representatives of Excalibur, Endiama, Sodiam, Lucapa Diamond and other leading companies in the industry. During the negotiations, the parties discussed possible participation of AGD DIAMONDS in diamond prospecting in promising areas of Angola and the prospects for developing alluvial diamond deposits.


The 1st Angolan Mining Conference and Exhibition and the negotiations held within its frames showed the interest of Endiama and other companies in a diverse cooperation with AGD DIAMONDS.


Source: Rough&Polished

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