Angola’s Endiama signs new contract for diamond exploration in Angola

13 August 2012

Angolan state diamond company Empresa Nacional de Diamantes de Angola (Endiama) is due Monday to sign a mining concession contract for the Tchegi mine, the company said cited by Angolan news agency Angop.

The contract is focused on alluvial diamond exploration in the provinces of Lunda Norte and Lunda Sul, across an area of 635.9 square kilometres.

In this deal, in which Endiama Mining has a 25 percent stake, the other partners are Escom Mining with 40 percent, Consórcio Mineiro do Tchegi with 16 percent, Organizações BK with 7 percent, Hipergesta with 6 percent, Somia with 4 percent and Ysakama with 2 percent.

The company that will be set up will be known as Sociedade Mineira do Tchegi. So far preparatory work for exploration of this alluvial mine has cost US$23 million. (macauhub)