The Australian multinational Rio Tinto, the second largest minerals company in the world, began prospecting operations for kimberlites and diamonds in the commune of Chiri, province of Lunda-Norte, informed the company’s general director.
The four-year prospecting phase takes place in a 75 hectare or 108 square kilometer mine, under the terms of a mining investment contract in Quimberlito do Chiri signed between the Ministry of Mineral Resources, Oil and Gas, Endiama and Rio Tinto , said Canga Xiaquivuila.
The general director said that prospecting consists of evaluating the land and its resources, and may be extended for another four years, upon renewal of the investment contract established for a period of 35 years, with 75 percent participation for the multinational and 25 percent for the Angolan state diamond company, Endiama.
The state-owned company participates through an investment of 14 million dollars used in drilling work, as well as geological and mining investigations that made it possible to determine that it is, in fact, a mineralized kimberlite.
The contract gives the Angolan diamond company the option to increase its stake to 49 percent, which implies a reduction in the percentage of the multinational’s capital, to around 51 percent.
For Canga Xiaquivuila, who was from the Geological Institute of Angola (IGEO), until April this year, the entry of a company with the capacity and potential of the multinational Rio Tinto into the Angolan diamond industry contributes to the rise of the country’s economy, since It is a conglomerate with global reference.
The manager highlighted that the ongoing prospecting work has, among others, the potential to enhance the country’s mineral resources.
