121 Mining Conference Cape Town Feb 2016, page-3

Great read FML.

Angolan diamond mining is expected to accelerate this year, the total output of 9,000,000 kt

http://www.inews163.com/2016/01/26/...ar-the-total-output-of-9000000-kt-140071.html

China Network Jan. 26 hearing, according to the Portuguese media reported on January 25, 2016, the Angolan government expects the country’s diamond mining capacity will reach nearly 9 million karats. This means that, compared with 2015, this year’s diamond production will be 1.5% growth. This figure also will break the record of history just last year.

A new report from the Angolan Ministry of Land and Resources and Mineral released, in 2016 the country’s diamond production in Angola will be high, an estimated $ 8.962 million karats. Among them, the government approved the procedure and has the legitimate exploitation of private gold and gold mining joint venture is also expected to hew out of 86,000 karats of diamonds.

Ministry of Land and Mineral Resources Minister Francisco Queiroz (Francisco Queiroz) in an interview with reporters, said: “We are now the country to conduct research, prepare plans for the development of a new diamond mining under the new plan,. over the next five years, Angola’s diamond production will be increased dramatically, there may even double. “

2015, Angola’s diamond mining industry can be described as a boom. Within only one year from the ground to dig out 8.837 million karats of diamonds, with a total value of about $ 1.1 billion, or about one billion euro. But negatively affected by the general decline in the international price of diamonds, diamond revenue last year, compared with the previous year brought about, however, reduced by nearly two million euros.

Following the oil, diamonds become Angola’s second largest export product, while Angola is the world’s fifth largest diamond exporter. In this regard, Francisco Queiroz minister said: “In the long term, diamond mining, refining, iron, gold and other minerals as compared to oil exports, bringing both benefits and foreign exchange income countries comparable.” The minister at the same time stressed: “From the perspective of sustainable development, the next five to ten years, how much, and even national fiscal balance mining industry to GDP trends and state tax will be more important than it is now influences.”

Francisco Queiroz minister said he was very optimistic about the ongoing series of mining engineering. Wherein like Huila (Hu la) province, is the exploration and exploitation of niobium, which is an important raw material for forged steel. There are diamond mining project in Lunda Sul (Lunda Sul) and the province of Huila gold extraction project elements. Granville (U ge) and South Kwanza province (Cuanza Sul) province also copper mining project.

Many projects, most notably the northern inland to open a diamond mine in Angola. The industry believes that this is the largest kimberlite discovered to date in Angola, and may in the future allow to double diamond production in Angola. The first diamond mine is expected to be commissioned in early 2018, the lowest annual 100 billion kt.

Government has also invested heavily for the diamond mine, to spend at least 10 million euros its careful exploration. Exploration results show that the diamond mine reserves of about 300 million 50 million karats, mine life expected to be approximately 30 years.