Endiama and partners invest in Angolan diamond project

7 June 2010

Lucapa, Angola, 7 Jun – The companies Endiama, Transex, Za-kufuna, Wengi and Caxingi have invested US$28 million in the new Luana diamond project inaugurated on Friday in Lunda Norte province, Angolan news agency Angop reports.

Endiama (Empresa Nacional de Diamantes de Angola) president Carlos Sumbula said on the occasion that the Luana project should produce 3,000 carats (600 grams) of diamonds per month in the first phase and later increase production to 5,000 carats.

Endiama holds a 39 percent stake in the project, Transex holds 37 percent, Wengi 15 percent, Caxingi 13 percent and Za-kufuna 5 percent.

Luana is located in Lucapa municipality. Its population’s main occupations are agriculture, hunting and river fishing. (macauhub)