Two diamond mining projects in Angola’s Lunda Norte province are to be re-launched

24 July 2012

Two diamond prospecting and exploration contracts were signed Monday in Luanda, by Angolan diamond mining company Empresa Nacional de Diamantes (Endiama) and its partners, Endiama Mining, and Sitramal, Jall, Saccir, and Solaris, according to Angolan news agency Angop.

The first contract is for the Cacuala prospecting project, in the Lucapa municipal area of Lunda Norte province, and will be carried out on an area of 463 square kilometres in which Endiama Mining has a stake of 25 percent, Solaris 40 percent, Sitramar 12.5 percent, Jall 12.5 percent and Saccir 10 percent.

The project has an initial investment of US$25 million, which may increase to US$50 million.

The second contract is for the Yetyene exploration project, also in Lunda Norte in the town of Camissombo, and has an initial investment of US$10 million and will be carried out on an area of 508 square kilometres.

Endiama’s partners in this project are Endiama Mining, which has a 27 percent stake, Solaris with 40 percent and the Yetyene consortium with 33 percent.

At the signing ceremony Endiama’s chairman, Carlos Sumbula said that the contracts were part of the strategy to re-launch mining projects that were at a standstill. (macauhub)