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4.1¢ lucapa diamond company limited

is today the day?, page-62

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05/10/14

14:45

Post #: 14077388
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Originally posted by progol ↑

The Fucauma Diamond Mine is a diamond mine under construction in the Lunda Norte Province of Angola. The mine is owned by a consortium of diamond mining companies, the two largest holders being Endiama with 40 percent ownership and Trans Hex with 35% ownership.[1]
A feasibility study was done, which included the second phase of bulk sampling and drilling was completed in February 2004. The result of the study was a plan for a US$15 million capital expansion programme, that would lead to a full-scale mining production capacity of 750 000 m3/year that is anticipated to yield 120 120,000 carats (24 kg) in the first year of full-scale mining. Pilot production was underway early in 2005 with full-scale mining expected to begin six months later.[1] The Fucauma mine is expected to produce approximately 480,000 carats (96,000 g) over a four-year period, providing earnings of US$70 million.[2]

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