Over 100 diamond concessions available in Angola

14 August 2007

Luanda, Angola, 14 Aug – Over 100 diamond mining concessions are available in Angola, according to a weekend report by Jornal de Angola citing information from the national diamond concessionaire, Endiama.

The concessions are located in 14 provinces of the country, with enormous mining potential.

Currently a mere 61 projects are in the execution phase, 14 of which in the production stage, 17 in the exploration phase and 30 in an initial stage.

Endiama’s aim is to become one of the world’s largest diamond producers, using the contribution of foreign investments.

Since 2006 Endiama’s annual production has risen by approximately 30 percent and by 2009 it expects to reach production of between 17 and 19 million carats.

In 2007 diamond revenues may reach US$1.2 million as the result of producing 9.41 million carats.

According to Endiama’s director of Planning and Investment, Alberto Fançony, the sub-sector will contribute US$150 million to the state budget this year.

Angola’s kimberlitic diamond reserves are estimated at 50 million carats , whilst alluvial reserves are estimated at 40 million carats.

Studies carried out, however, have shown that these reserves could be substantially higher, reaching a combined total of 370 million carats. (macauhub)