Russia hails potential of Luele diamond

Dec 04, 2023

Russia’s ambassador to Angola, Vladimir Tararov said in the Province of Lunda Sul that the Luele diamond project will contribute to a significant increase in diamond production in the country. The diplomat, who was speaking at the inauguration ceremony of the Luele diamond project, said that it would boost the national economy.

To him, a large diamond mine was inaugurated which will be very useful for Angola, because 600 million carats of diamonds is a lot and revealed that the Luele mine was supported by Russian citizens. The Luele project is considered the largest diamond project in the country and is the third largest kimberlite in the world, with estimated reserves of 600 million carats of diamonds.

The installation of the treatment plants and other structures for this deposit began in January 2017, with the signing of the constitution of the Luele Mining Society and the Memorandum of Understanding between Endiama mining company and the Russian diamond company Alrosa, with an investment of USD 350 million.

It has been set up on an area of 104 hectares and it is expected to produce around 1 million carats a year and have a gross turnover of USD 60 million a year. The mine has the capacity to treat four million tons of mine in its first year of operation.

It is expected to create 3,000 direct jobs by 2026, thus helping to support the income of the families, which will result in the country’s social development.

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