Yetwene Mining Project, due to start operating on 27 April, will initially produce an average of 10,000 carats of diamonds per month, on permanent prospecting activity aimed to maximise the capacity of exploited diamonds.
The CEO of Diamond company, Endiama, Ganga Júnior, told the press that US$25 million had been invested in the project.
Addressing an opening ceremony of the technical and scientific event on 27 April, Miners' Day, Endiama boss said that the investment showed that the sector was constantly growing.
The project's economic reserves go up to five years and, he added, the diamonds will be priced at US$300 per carat.
A total of 500 workers, including men and women, will carry out the activity.
The Secretary of State for Mineral Resources, Jânio Correia Victor, noted that the projects of this nature take time to generate a return on investment.
He said that in order to generate revenues or profits it is necessary the prospecting, which in many cases takes 5 to 10 years for its conception, for a better discovery and exploitation of the existing resources in that region.
He said that the Executive has been doing everything so that the companies can not only guarantee transparency, profitability for their own, but also generate wealth for the families of the localities that, in many cases, live below the poverty line.
He explained that the actions to reassess the reserves followed the implementation of a geological study, which showed the existence of proven blocks.
Thus the continuous prospecting work is essentially aimed at gauging the reality of what is being done, in terms of reassessing the potential of the existing blocks in the Yetwene concession.
About the Yetwene Project
Yetwene Project is a private project, in partnership with Endiama, after a long stagnation since 2009, when the last production was verified, by the previous owner of the initiative.
In 2019, the Yetwene Project received a licence for the start of exploration activity, in a 508 square kilometre concession.
The Pre-Treatment (PT) plant has a daily target of 600 cubic metres of treated gravel, while the other, known as DMS, with around 350.
Source: Angola Press News Agency (APNA)