Wednesday, January 23, 2013

Escom Mining to start mining diamonds in Angola soon

Escom Mining expects to start mining diamonds at the Luô concession and in the Tchegi region, following four years of prospecting, the chairman of the Angolan company, Hélder Bataglia said in Luanda according to state newspaper Jornal de Angola.
At the ceremony to celebrate the 32nd anniversary of Angolan state diamond company Empresa Nacional de Diamantes de Angola (Endiama), Bataglia said that production was expected to be good, but noted that the company preferred to wait for operations to be launched to go into details.
The chairman of Escom Mining said that conditions were in place to launch production and that appropriate staff and equipment were available.
Diamond prospecting was carried out over a five-year period and the company spent US$208 million on 14 concessions, which gave the company a clearer idea of the available reserves.
The company owns exploration rights on the 14 concession but, after prospecting at 12 of them, just two concessions were considered to be profitable. (

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