Angolan state diamond company Endiama has signed a new diamond exploration contract for the Tchegi mining area.
Macauhub reports that the contract is focused on alluvial diamond exploration in the provinces of Lunda Norte and Lunda Sul, across an area of 635.9 square kilometres.
Preparatory work for exploration of this alluvial mine had so far cost $23 million, Macauhub reports.
Endiama had a 25 percent stake in the project, while the other shares were controlled by Escom Mining (40 percent), Consórcio Mineiro do Tchegi (16 percent), Organizações BK (7 percent), Hipergesta (6 percent), Somia (4 percent) and Ysakama (2 percent).
Endiama signed two prospecting and exploration contracts last July with its partners, Sitramal, Jall, Saccir, Yetyene and Solaris.
Company chairman Carlos Sumbula said then that the contracts were part of the strategy to re-launch idle mining projects.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
