Angola: Endiama granted new diamond mining concession

8 January 2008

Luanda, Angola, 8 Jan – Angola’s Empresa Nacional de Diamantes de Angola (Endiama) has been granted the mining and prospecting rights for kimberlitic diamonds in Cassasala, in Angola’s Lunda Sul province, across an area of 2,700 square kilometers.

This concession was the result of approval of the partnership contract between Endiama, Gevale – Indústria Mineira and FP- Empreendimentos.

Endiama will have a stake of 51 percent, Gevale will have a 44 percent stake and the remaining 5 percent will be in the hands of FP-Empreendimentos.

Gevale – Indústria Mineira has to bear all the costs of investment and prospecting, research and surveying, and over the five years of the contract must invest a minimum of US$10 million. (macauhub)