Portugal delivers geological collection from diamond prospecting to Angola

18 January 2016

Portugal will deliver to Angola a geological collection that is over 100 yeas old elated to diamond prospecting in the African country, under an extrajudicial settlement between Sociedade Portuguesa de Empreendimentos (SPE) and Angolan state diamond company Endiama.

The information was announced in Luanda by the president of Endiama on the sidelines of the celebrations of the company’s 35th anniversary on Friday. He added that through this agreement and the end of its diamond prospecting activities in Angola, Portuguese state company SPE would receive US$130 million.

“Receiving in exchange the 49 percent that SPE owns in Sociedade Mineira do Lucapa, the 24 percent it has of Calonga, plus the 4.9 percent that it has in Camutué [mining areas in the North of Angola], plus any prospecting documentation that Diamang [company from the Portuguese colonial era] conducted over almost 100 years, we have come out as winners,” said Carlos Sumbula, cited by the Portuguese press.

The issue was focused on the exclusion of the Portuguese public diamond mining company from a mine in eastern Angola, through Sociedade Mineira do Lucapa (SML), a process that has dragged on since 2011, including in the courts, and that led the Angolan State in 2014 to give up on the arbitration process, exacerbating the misunderstanding with Portugal in this case. (macauhub/AO/PT)