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Angola,Russian Federation : ENDIAMA inks diamond prospecting agreement with ALROSA
Publish Date : 25-Jun-2013
Empresa Nacional de Diamantes de Angola (Endiama) declared that it has inked a joint agreement with Alrosa to survey and prospecting in diamond areas.
The chairman of Endiama, Carlos Sumbula stated that in the agreement, each company will have 50% share and is aimed to continue work carried out over the last two years.
He said, "In the last two years we have carried out geological surveys in Angola and concluded that only 10% of alluvial diamonds that we have explored have come from known kimberlite deposits. Therefore it was time to launch the second phase to prospect national territory in order to find most of the kimberlite deposits that have yet to be discovered."
"Geological studies showed that Angola's diamond potential totalled around 1 billion carats," said the chairman of Alrosa, Fedor Andeev.
At an international conference to mark the 100th anniversary of the first diamond discovery in Angola, held yesterday and today in Luanda,
"Angola had enormous diamond potential that had yet to be discovered and quantified," said the minister for Geology and Mining, Francisco Queiroz.
The minister said, "Of over 1,000 known kimberlite deposits, only three are being explored, including the Catoca mine, which accounts for 87% of Angola's diamond production."
