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President João Lourenço inaugurated today the country’s largest diamond project, the Luele (Luaxe) mine, which is expected to start exploitation this year with a production prospect of 528 million carats.
The kimberlite (matrix rock of diamond) of the Luele project, located in the northeast of Angola, in the province of Lunda Sul, was discovered in November 2013, during the geological researches of the Catoca Mining Society, according to information provided by the Ministry of Mineral Resources, Petroleum and Gas (MIREMPET).
Preliminary studies of the geological potential indicate that the Luele kimberlite, with a depth of 600 meters and an area of 105 hectares, contains a quantity of ore of 647 million tons, which will result in 628 million carats over the 60-year lifespan of the mine.
So far, $635 million (581 million euros) have been invested by the Luele Mining Society, in which Catoca has a 50.5% stake, the Angolan state diamond company Endiama, 25%, Falcon, 19.5%, Reform, 4.0%, and the Geological Institute of Angola (IGEO), 1%.
Today, at the inauguration, the minister in charge, Diamantino Azevedo, discussed the Angolan diamond industry in the international context, highlighting the return to the country of the multinational De Beers and, for the first time, of the global mining giant Rio Tinto, “which, in addition to diamonds, is exploring the opportunity for investments in the prospecting of other minerals”.
“Today, we are holding this event that marks the beginning of the operations of the Luele Mining Society. The production of this mine will contribute to a significant increase in diamond production in Angola,” he noted.
The Minister of Mineral Resources also spoke about the Diamond Development Hub of Saurimo, where diamond cutting factories have been installed, with now eight factories in the country where 673 young Angolans are employed.
