Endeb invests over US$107 million in diamond prospecting in Angola

20 January 2010

Luanda, Angola, 20 Jan – Diamond companies Endiama and De Beers, from 2005 to 1009, invested US$107 million in the Lunda Nordeste project, for prospecting diamond areas in Angola’s Lunda Norte province, in the northeast of the country, Angolan news agency Angop reported Tuesday.

The two companies have been in partnership since 2005, in the form of a company known as Endeb, which 51 percent owned by Angola’s Endiama and 49 percent by South Africa’s De Beers.

In order to carry out the Lunda Nordeste project, Endeb carried out technical and professional training between 2005 and 2009, invested in facilities and laboratories in Luanda, as well as in safety at work.

The project will continue for a further four years, from 2010 to 2013, in two phases.

Endiama is Angola’s diamond concession company and is involved in the prospecting, surveying, exploration and sale of diamonds in Angola., whilst De Beers is a South African company which operates in the Angolan diamond sector. (macauhub)