Angola’s Endiama signs new contracts for diamond prospecting and mining

7 December 2011

Luanda, Angola, 7 Dec – Angolan diamond company Endiama, Kassypal and Sociedade Geral de Minas (SGM) Tuesday in Luanda signed two contracts for diamond prospecting and mining, according to Angolan news agency Angop.

The contract between Endiama and Kassypal, an António Mosquito group company, relates to the Uári alluvium project, which will be carried out in Lunda Norte province.

The second contract for prospecting and a secondary diamond deposit was signed between Endiama and Sociedade Geral de Diamantes (SGM), to carry out the Luege alluvium project.

Endiama will take a 51 percent stake in each of the projects, whilst the two companies will keep the remaining 49 percent.

At the signing ceremony, the chairman of Endiama, António Carlos Sumbula, said that the first contract was for an existing mine that had been at a standstill due to the world economic crisis, whilst the second was a project for prospecting new deposits. (macauhub)