Chissema Mining Society Boosts Investment in Diamond Reserves Amid Market Challenges

Chissema Mining Society Boosts Investment in Diamond Reserves Amid Market Challenges

Sociedade Mineira de Chissema in Lunda-Norte is ramping up its investments in diamond prospecting to reassess existing reserves and ensure its market presence.

The company, which operates in a 1,019-square-kilometre concession spanning four municipalities—Capenda-Camulemba, Xá-Muteba, Cuango, and Lubalo—is focusing on exploration to navigate the current downturn in diamond prices.

José Eduardo Van-Dúném, the head of Chissema’s Geology department, shared these plans during a visit by the provincial governor, Filomena Miza.

He highlighted the need for new exploration areas due to the drop in international diamond prices, aiming to recover production levels that fell in the first half of the year.

The company’s diamond production for the first half of this year was just 16,000 carats, below the expected figures. Van-Dúném emphasized a new goal to produce 10,000 carats monthly from two exploration blocks, supported by recommendations from the Ministry and Endiama.

Chissema is also committed to increasing its contribution to the state’s revenue and maintaining its workforce of 731 employees, including 383 locally recruited staff.

In terms of social responsibility, the company has implemented several projects, including the construction of a second-cycle school in Muxinda, Capenda-Camulemba, and a technical training program for 350 youths from the concession area. Additional projects include drilling water wells in Capenda-Camulemba and surrounding towns.

Van-Dúném stressed that these efforts aim to address community needs and strengthen the company’s role in the local economy.

Loading

Share this article

Leave a Reply

Your email address will not be published. Required fields are marked *

You have successfully subscribed to the AMG Weekly newsletter

There was an error while trying to send your request. Please try again.

Angolan Mining Oil & Gas will use the information you provide on this form to be in touch with you and to provide updates and marketing.