Endiama negotiates financing for Luaxi project

Cape Town – Angola’s National Diamond Company Endiama is negotiating the financing of the Luaxi project while complying rigorously with the parameters and programming indicated by the Angolan Government in the scope of this initiative.

This information was released Tuesday by the CEO of Endiama, Antonio Carlos Sumbula, at the end of the “Angola Business” forum, held during the International Mining Conference (Indaba Mining) held in Cape Town, South Africa.

“Luaxe was a discovery made by Endiama in association with the Russian company Alrosa. This is on track and does not need investors,” he said.

As long as the Luaxe project does not go into production, Endiama will choose to reduce production slightly to improve revenues, “he said.

Our way is to negotiate with the other producers, such as De Beers, Alrosa and Rio Tinto, so that they can reduce their production slightly, in order to allow Angola to gradually increase production, without causing the international price of Diamond rises, he stressed, emphasizing that this is the way to adopt.

The Angolan ambassador to South Africa, Josefina Diakite, who also participated in the forum, stressed that it was a promotional event, in which Angola has been participating for some time.

Source: Angola Press News Agency