RapNet


Rapaport News

 

Mining

 
Rapaport Broadcast
Martin Rapaport’s Webinar on Estate Jewelry
October 30 2019

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Alrosa’s Angola Mine to Start Production in 2020

Luaxe will provide 1 million carats in first year, according to report.
Dec 15, 2019 8:28 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... After six years of development, production is due to begin at Alrosa’s Luaxe diamond deposit in Angola next year, the nation’s government said.

Output will come to around 1 million carats valued at $90 million in the first year, according to a Reuters report. The initial stages of production will be a “pilot project,” Endiama strategic planning and mining operations administrator Laureano Receado Paulo said last week in a Facebook post. 

Alrosa discovered the Luele pipe in the Luaxe region in 2013 during exploration work it carried out together with local experts. The company jointly owns the site with state-controlled diamond-mining companies Catoca and Endiama. The project could be one of the largest discoveries in the diamond industry in 60 years, worth more than $35 billion, Alrosa said in 2017.

The additional rough from Luaxe will help boost Angola’s diamond production in the next few years. Total output for the country is expected to reach 13.8 million carats by 2022. Production for 2019 will be approximately 9.5 million carats, Paulo added on the Ministry of Mineral Resources and Oil Angola (MIREMPET) Facebook page. 

Image: Rough diamonds. (Alrosa)
Tags: Alrosa, Catoca, ENDIAMA, Laureano Receado Paulo, Luaxe, Luele mine, Ministry of Mineral Resources and Oil Angola, MIREMPET, Rapaport News
Similar Articles
AlrosaWeak Market Dents Alrosa Sales
Jan 26, 2020
Rough-diamond sales at Alrosa fell 26% in 2019 as an oversupply in the midstream...
Gem Legacy Adds New Advisory Board Member
New Production Strategy Pays Off for BlueRock
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us