Angolan state-owned diamond miner, Endiama says its 41%-owned Catóca mine is thinking about expansion underground, according to the company director of mining operations and joint venture management Miguel Vemba.
The open-pit mine, which is the fourth largest diamond mine in the world, produces more than 50% of the total production in Angola as well over 40% of the country’s diamond revenue.
Catoca has been in existence for the past 29 years and its lifespan is expected to end between nine and 12 years when it will reach the exhaustion of the reserves at a depth of 600 metres.
“As we look at the crossroads of our industry, Catóca is looking to sustain the base, and that includes, first, doing major turnaround of our plans to ensure that we sustain the production for the future,” he told the Dubai Diamond Conference.
“Catóca right now is thinking about the global expansion and the expansion underground, as well as cost efficiency mechanisms to ensure we are fit for the future.”
Vemba said Angola also wants to create a diamond fund that can not only support the exploration programme but also provide a buffer for production projects in Angola.
“We want to ensure in that programme we let prospecting hold the way to jewellery,” he said.
He said the country wants to collaborate with the stakeholders and interested parties on the marketing of natural diamonds.
“We saw a beautiful advert by De Beers, but we want to have a concerted effort and join in this endeavour to promote natural diamonds,” said Vemba.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished, from Dubai, United Arab Emirates
