Endiama Plans Alluvial Exploration

Angola’s diamond company Endiama says its planning to explore for alluvial diamonds in the Cacolo region. Endiama is partnering with four companies for the project.

Endiama has a 31 percent stake in the project, Makitara - a Trans Hex affiliate – holds a 30 percent stake, and the three other companies – the Angolan Gelton, Prodminas and Saccir - will hold a 13 percent share each.

If the group is successful and the venture leads to a diamond mining operation Endiam’s stake will grow to 51 percent with Makitara guaranteed to retain a 27 percent share.