Angola and Russia deepen economic cooperation

24 May 2017

Angolan satellite AngoSat may go into orbit later this year, Telecommunications and Information Technology Minister José Carvalho da Rocha said in Luanda.

The minister, speaking at the end of a meeting with the Deputy Prime Minister of the Russian Federation, Yury Trutnev, said that the project is taking place within the planned timetable, with the construction of the satellite almost complete, according to daily newspaper Jornal de Angola.

Carvalho da Rocha said that the meeting was to review the level of cooperation, particularly the projects that the sector has been developing with Russia, as there are dates that have been agreed and need to be met.

The Russian Deputy Prime Minister was also received by the Secretary of State for Geology and Mines, Miguel Bondo Júnior, who said that both countries intend to develop projects in the medium and long term, in particular in partnership with the Angola’s national diamond company, Endiama and the national iron company, Ferrangol.

Also on Tuesday in Luanda, Endiama and Russian group Alrosa signed a mining investment contract to make the Luaxe diamond project viable, as well as the public deed of incorporation of mining company Sociedade Mineira do Luaxe, at a ceremony attended by the Deputy Prime Minister of the Russian Federation.

The president of Endiama, Carlos Sumbula, said that the amount of the investment will depend on the findings of the technical and economic feasibility study of the project, now being drawn up, which once completed will be followed by a search for financing.

Luaxe, which is located in Lunda Sul province, is considered one of the largest kimberlites in Angola and is about 20 kilometres from the Catoca mine, the fourth largest diamond mine in the world.

The Luaxe project is a mining concession that will be owned by Endiama and Alrosa, both with 8.0% each, Sociedade Mineira de Catoca with 50.5%, Artcon with 23.3%, Makakuima with 5.2% and Kollur with 5.0%. (macauhub)