Angola inaugurates world's third largest diamond matrix rock mine
The Angolan President João Lourenço has inaugurated the Luele (Luaxe) mine in Angola, considered not only the country’s largest diamond project but also the third largest kimberlite (diamond matrix rock) in the world.
The mining project has an estimated 350 million carats in reserves and a useful life span of 30 years, according to local news outlet Opais.
It was discovered in November 2013 during geological surveys by the Catoca Mining Company, according to the country’s Ministry of Mineral Resources, Oil and Gas, Mirempet.
The Luele Mine is expected to contribute to significant mining sector reforms and increase diamond production.
The Minister of Mineral Resources, Oil and Gas Dimantino Azevedo said that the move will “better insert the Angolan diamond industry in the international context of this product”.
Azevedo noted that De Beers, a world-leading diamond company was brought back to Angola after fierce negotiations, making the country a global mining giant for the first time.
To date, around US$59.3 million has been spent on geological research work, US$415 million for the implementation of the mine and US$161 million for the Treatment Center, making a total of US$635.3 million.
Preliminary studies of the geological potential reveal that the Luele kimberlite is 600m deep in an area of 105 hectares, with an amount of ore of 647 million tonnes that will result in 628 million carats, in an estimated mine exploration of 60 years, from 2023 to 2083.
Sociedade Mineira de Catoca has a stake in the project with 50.5%; Endiama 25%; Falcon, 19.5%; Reform 4%; and the Geological Institute of Angola (IGEO), 1%.
