Moydow of Canada and Angola’s Endiama partners in diamond venture

10 January 2006

Luanda, Angola, 10 Jan – Canadian mining company Moydow and Angolan state-owned firm Endiama have inked a deal to explore for primary diamonds on the Dala license in South Lunda province.

The venture will be controlled by Endiama with a 51 percent stake and Moydow will take a 40 percent share in the venture with its partner Concord Minerals.

Remaining shares in the 3,000 square kilometer Dala development will be held by unidentified Angolan partners.

The project is bordered on the east and west by the Alto Cuilo and Muriege developments, operated by BHP Billiton and Petra Diamonds respectively. The Catoca diamond field lies 40 km to the north. (macauhub)