Angola Mine May Contain 350 Million Carats of Diamonds
March 17, 16
(IDEX Online News) – Angola’s Luachi diamond mine, which is set to begin commercial operations in 2018, is thought to contain as many as 350 million carats of diamonds, according to a report on macauhub.
Carlos Sumbula, president of Angola’s national diamond company Endiama, said that the mine, which has a predicted lifespan of 29 years and is located in the province of Linda Sul, will occupy an area of approximately 100 hectares and will be excavated to a depth of around 400 meters. A geological survey of the area began in 2008 and a kimberlite was discovered there in 2009.
“Up to a depth of about 400 meters we will remove something like 350 million tons of material and the geological survey we conducted revealed that the content of diamond is about one carat per ton and 12 million carats per year,” Sumbula said.
Endiama will invest $300 million in the first phase of the project and its total investment is expected to be around $800 million.