Luele mining project opened in Angola!

Dec 02, 2023

Six hundred and twenty million carats of diamonds is the estimated reserve of Luele mining society to be extracted from 600 meters deep, the chairman of the Board of Directors of Endiama, Ganga Júnior, revealed in Saurimo, Lunda Sul province.

Ganga Júnior advanced this information when presenting the Luele project to the President of the Republic, João Lourenço, and members of the Executive, stating that it has an international dimension. The mine has a treatment capacity, in the first year of activity, equivalent to four million tons of ore. He highlighted that after the work, it is expected to increase to 12 million tons, starting in the third year.

The head of the National Mining Company said that in terms of the workforce, it is estimated that at least three thousand direct jobs will be created by 2026, thus contributing to family income and consequently to the country’s social development.

On the other hand, he explained that Luele Mining Society, whose name is associated with Kimberlite with the same name, is the result of a strategy implemented by Catoca Mining Society back in 2007, with the aim of increasing its reserves and respective assets.

During the implementation of the project, several constraints and challenges of a technical and technological nature arose, associated with the complexity of the deposit, which were only overcome with the commitment and work team dedication, 100% led by Angolans, who has always found the best solutions to such challenges.

Located in the province of Lunda Sul, Luele is a kimberlite deposit mine. It has capacity for 1,500 workers and in the first phase, the expectation is that it will reach just over one million carats per year and a gross revenue of USD 60 million/year. Located in an area of 104 hectares and with a useful life of 60 years, as well as 600 meters deep, the mine began prospecting between 2007/2008.

A balance presented by Endiama, in 2021, on the company’s achievements, that year, the mine produced around 1.7 million carats of diamonds, with an average monthly diamond production of 143.7 thousand carats.

Up to know, around USD 59.3 million has been spent on geological research work, USD 415 million for the implementation of the mine and USD 161 million for the Treatment Center, totaling USD 635.3 million.

The Company has the following shareholding: Catoca, with 50.5%, Endiama (25%), Falcon (19.5%), Reform (4.0%) and IGEO (1%).

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