SMC to step up diamond hunt in Angola

Diamonds AngolaAngola's Catoca diamond mine is the fourth largest diamond mine in the world. (Image source: Swamibu)Sociedade Mineira de Catoca (SMC) has declared its intention to invest in the discovery of new diamond reserves in Angola as it aims to increase its production

Ganga Júnior, CEO of SMC, told the Angola Press Agency (ANGOP) that the organisation would target new areas within the country's seven diamond concessions, placing a particular focus on concessions in Lunda Norte, Lunda Sul, Malanje and Kwanza Sul, which Júnior said also held other mineral resources.

Júnior confirmed that geological prospecting works was already underway, adding that the Chiuso concession, which will be expected to create 600 new jobs, had been scheduled to begin operations in 2016.

The Catoca diamond mine, the fourth largest diamond mine in the world, is located in Angola's Lunda Sul province, producing 8.3 million carats and generating a total net revenue of US$1.2bn.

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