Trans Hex in joint venture with Endiama for diamond concession in Angola

15 May 2006

Luanda, Angola, 15 May – South Africa’s Trans Hex agreed to be part of a joint venture with Empresa Nacional de Diamantes de Angola (Endiama) and other minority partners for a 33 percent stake in the Luana diamond concession in Angola, officials said.

The signing of the agreement was the successful end to the process of converting a previous service provision agreement into a joint venture agreement.

The Luana concession is located 80 kilometers to the northeast of the city of Lucapa, in the province of Lunda Norte, has an area of 724.5 square kilometres and is next to the Luarica concession in which Trans Hex has a 35 percent stake.

Under the terms of the previous agreement, Trans Hex carried out a survey of the Luana river which had “encouraging” results. (macauhub)