The Catoca diamond
mine, which is majority
-owned by Endiama
and Alrosa who each
hold a 32.8% stake
Luanda, Angola — 21 June 2013 – Angolan diamond company Empresa Nacional de Diamantes de Angola (Endiama) and Russian diamond producer Alrosa have signed a joint agreement for surveying and prospecting in diamond areas.

The agreement, in which each company has a 50% share, is intended to continue work carried out over the last two years, Macauhub News Agency quotes the chairman of Endiama, Carlos Sumbula, as saying.  

“In the last two years we have carried out geological surveys in Angola and concluded that only 10% of alluvial diamonds that we have explored have come from known kimberlite deposits,” he said. “Therefore it was time to launch the second phase to prospect national territory in order to find most of the kimberlite deposits that have yet to be discovered,” he added.

The chairman of Alrosa, Fedor Andeev, said that geological studies showed that Angola’s diamond potential totalled around 1 billion carats.

At an international conference to mark the 100th anniversary of the first diamond discovery in Angola, held yesterday and today in Luanda, the minister for Geology and Mining, Francisco Queiróz, said that Angola had enormous diamond potential that had yet to be discovered and quantified.

Of over 1,000 known kimberlite deposits, only three are being explored, including the Catoca mine, which accounts for 87% of Angola’s diamond production, the minister said.

Source: Macauhub News Agency. For more information, click here.