Lunda Sul: CAT-E42 to yield more than USD 200 million in four years

Saurimo – Catoca Mining Company’s CAT-E42 diamond mine, with annual capacity to produce one million carats, whose prospecting work began in 2004, will yield about 250 million US dollars, informed the chairperson of the Board of Directors of Endiama EP, Carlos Sumbula.c

Speaking to the press, on the sidelines of the inauguration of said mine, made by the minister of Geology and Mines, Francisco Queiroz, he reported that the investment in CAT-E42 was over 50 million US dollars.

“This mine will have a positive impact, although small, will have an income of about 250 million dollars, which will extend the revenues to the State, as well as contribute to the growth of the national economy and enable the collection of foreign exchange,” He stressed.

He said that Endiama will continue to develop actions aimed at finding more reserves in the country, with a view to creating more jobs and, consequently, the growth of the economy.

He assured that social projects will be implemented in the neighborhoods surrounding the mine.

The official recalled that last year Endiama produced through the exploitation of diamonds, about one billion and 100 million dollars.

The project, located seven kilometers off the Catoca mine, will be explored up to 150 meters deep and has reserves of 5 million and 500 thousand tons of ore.

Source: Angola Press News Agency