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Angola: Government Authorises Association of Diamond Exploration Companies

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Angola Press Agency (Luanda)

12 April 2008
Posted to the web 14 April 2008

Luanda

The decision is carried in the State Gazette nº 145 of March 11 this year that reached Angop, saying the area has an extension of 3,000 square kilometres.

It took into account the government directive that enables local and foreign investors to participate in the development of diamond extracting industry, in the ambit of the new prospecting and exploration policy.

According to the document, the quota of participation of the associates for the exploration phase will be set on the respective contract. However, it will definitely be around 28 percent for Endiama, 24 for SOCIM (Investments society), 24 for SOMUA ( MAUA mining society) and CUANGO (Cuango International).

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