Endiama, Angola’s state-owned diamond-trading company, has signed a mining investment agreement with N’Dumba, a subsidiary of the Jean Boulle Group, to engage in diamond prospection, exploration, and commercialization.
The agreement was formalized at the Mining Indaba in Cape Town, South Africa, with Angolan Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, and Rui Xavier, Angola’s ambassador to South Africa, in attendance during the signing ceremony, Endiama reported on Tuesday.
The N’Dumba concession, located in Lunda Norte province, covers 222 square kilometers and is rich in both kimberlite and alluvial diamond deposits.
Under the terms of the agreement, the two companies will establish a joint venture to manage the exploration and mining of the alluvial diamond deposits.
This partnership represents a significant step in Angola’s efforts to expand its diamond industry and attract continued investment in the country’s mining sector.
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