The exploration of the Luaxe kimberlite, in Angola’s Lunda Sul province, an area of 100 hectares with diamond deposits estimated at 350 million carats, will cost a minimum of US$800 million, said the chairman of state-owned diamond company Endiama.
Carlos Sumbula, chairman of Endiama, said that the prospecting work carried out by company technicians and Russian group Alrosa should be completed in mid 2016, after which preparations will begin for its feasibility, technical, economic and financial studies and raising funds for completion.
The chairman of Endiama said the service life of the mine is estimated at 35 years, during which around 350 million carats of diamonds are expected to be extracted to a depth of 400 metres.
“The work done by teams from Endiama and Alrosa was satisfactory and showed that only 10 percent of alluvial diamonds come from known kimberlites, with 90 percent yet to be discovered,” said Sumbula.
Within six years, Sumbula said, Angola may double diamond production from the current 8 million to 16 million carats per year with the exploration of this new kimberlite. (macauhub/AO)