Diamond mining company Sociedade Mineira do Tcheji, which will explore a diamond mine with the same name, expects initially to extract 3,000 carats of diamonds per month, with estimated revenues of US$1.5 million, Angolan news agency Angop reported.
This project, whose mine is located in an area spread across the provinces of Lunda Norte and Lunda Sul, was formally inaugurated Saturday by teh ANgolan Minister for Geology and MInes, FRancisco Queiroz, in a ceremony held in the municipality of Lucapa, Lunda Norte province.
Exploration work is being conducted in Lunda Norte, on a concession area of 635 square kilometres.
The inauguration ofthe Tcheji project marks a new era in the development of Angola’s diamond industry and follows the signing of an exploration contract between Endiama, Oga and Aricon, as investors, and shareholders Ipergesta, Somia Yassacama and BK.
The initial investment for this project is US$15 million and prospecting work began in 2011.
In 2015 Angola produced over 9 million carats of diamonds and that level of production is expected to increase because of the launch of the Tcheji project. (macauhub/CV)