The Angolan state-run diamond company Endiama has partnered with no less than six other firms in order to explore a mining concession in the regions of Lunda Norte and Sul.



The ownership of the 626-square-kilometer alluvial mining concession is broken down as follows: Endiama will own 25% of the project, Escom Mining will own 40%, Tchegi will own 16%, Organizacoes BK will own 7%, Hipergesta will own 6%, Somia will own 4% and Ysakama will own 2%. An Endiama representative said that $23 million has been invested in the project and that this will be followed by another $8 million in funds.



Escom Mining representative Helder Bataglia noted that the mine has been active for the last 14 years and as such it will continue to be a major producer of diamonds and revenues. Endiama EP chairman Carlos Sumbula noted that the concession was the first to prove its economic viability, according to Diamond Intelligence.