Rio Tinto Angola has commenced community and environmental engagements over its Chiri diamond concession in the Lunda Norte Province, according to a senior company official.
The diversified mining company signed a joint venture agreement with Endiama in October this year over the diamond concession.
The joint venture would see Rio Tinto controlling a 75% stake while Endiama will take up the remaining 25%.
The company operations director for Angola Paul Hundt told the Angola International Diamond Conference in Saurimo that they will play their part to boost the country’s diamond industry.
“We all look to growing the Angolan diamond industry,” he said. “We have to play our part as the upstream [diamond] industry…”
The contract between Rio Tinto Angola and Endiama, which will last for five years, provides for the possibility of the latter increasing its stake to 49%.
The concession, which covers an area of 108 km², has the potential to have a life mine of 35 years.
The parties had been negotiating over the concession since April 2019.
Mathew Nyaungwa, Editor in Chief of the African Bureau in Saurimo, Angola, Rough&Polished
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