Diamond production in Angola totalled 742,000 carats in December 2013 February 6th, 2014 News
The Angolan diamond sector in December 2013 produced over 742,000 carats of diamonds, the Angolan Geology and Mining Minister said in Cape Town, South Africa, according to Angolan news agency Angop.
Francisco Queiroz, who travelled to Cape Town to take part in the 2014 edition of Mining Indaba, from 3 to 6 February, added that Angola planned to increase production by 2017, at an annual average rate of 5 percent.
The Angolan minister said that a total of 10 mines were in operation in Angola – three to explore primary deposits (kimberlites) (Catoca, in Lunda Sul province, Camutué and Luô, in Lunda Norte) and seven mines exploring secondary deposits (alluvial deposits) (Cuango, Chitotolo, Canvuri, Luminas, Chimbongo, Somiluana and Calonda, in Lunda Norte).
Six artisanal operators buy uncut diamonds in the mining regions and in December of last year transactions involved 83,300 carats of diamonds.
According to Queiroz the government also plans to increase production of ornamental stone, particularly marble and granite and announced that by 2018 Angola would conduct aerial, geophysical, geological and geochemical surveys across the country.
“Until then, geological and hydro-geological maps as well as for construction and metallic minerals will be prepared,” Queiroz said.
Angola is one of the world’s top five diamond producers by value and in the top ten by quantity. In 2012 diamond production totalled 8 million carats and provided revenues of US$1.17 billion.
Minister Francisco Queiroz took part in Mining Indaba 2014 to raise awareness amongst potential investors of Angola’s mining potential and to promote the National Geological Plan and new Mining Code. (macauhub)
LOM Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
