Luanda, Angola — 15 August 2012 – The Angolan state diamond company Empresa Nacional de Diamantes de Angola (Endiama) has signed a mining concession contract for the Tchegi mine, according to a report by the Angolan news agency Angop.

Macauhub News Agency reports that the contract is focused on alluvial diamond exploration in the provinces of Lunda Norte and Lunda Sul, across an area of 635.9sq km.

Endiama Mining has a 25% stake in the new mine, and the other partners are Escom Mining with 40%, Consórcio Mineiro do Tchegi with 16%, Organizaí§íµes BK with 7%, Hipergesta with 6% Somia with 4%and Ysakama with 2%.

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.

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