BRAZIL, CHINA, SPAIN TO MAP ANGOLA'S DIAMOND POTENTIAL
Post Date: 02 Dec 2013 Viewed: 382
Three foreign firms, hailing from Brazil, China and Spain, will be carrying out a project of massive proportions to map the geology of Angola and determine which parts of the land are likely to contain rough diamond reserves, Mining Weekly reports. At present, information is only known about 40% of the country's territory; this major survey will collect data on the remaining 60%. The Geological Institute of Angola, or IGA, will oversee the survey program, which is expected to cost the equivalent of approximately $410 million and take two years' time.
Brazilian firm Costa Negocios will survey the eastern region of the country, Chinese firm Citic will survey the north of the country and Spanish firm Impulso will survey the south of the country. IGA director-general Makenda Ambroise noted that the main work needed to be farmed out to foreign companies because there were no local firms that were capable of all of the conditions it had set, according to Mining Weekly.
One year ago, Diamond Intelligence reported that Russian diamond company Alrosa would play a role in Angola's geophysical mapping project, but there is now no mention of their involvement.