Africa-Press – Angola. The Yetwene Mining Project, whose exploration starts on April 27, will produce an average of 10,000 carats of diamonds per month, in a first phase.
It will have continuous prospecting activity, in order to maximize the capacity of explored diamonds.
Speaking to the press, the Chairman of the Board of Endiama, Ganga Júnior, explained that US$25 million had been invested in order to carry out the project.
The official, who was speaking during the opening of the technical and scientific days of the 27th of April, Day of the Mining Worker, said that the investment demonstrates that the sector is in constant growth.
The economic reserves of the project go up to five years, and, he pointed out, the diamonds will be priced at US$300 per carat.
A total of five hundred workers, between men and women, will ensure the activity.
On the occasion, the Secretary of State for Mineral Resources, Jânio Correia Victor recalled that projects of this nature take time to generate a return on the amounts invested.
He specified that prospecting is necessary to generate revenue or profit, which in many cases varies from 5 to 10 years for its conception, for greater discovery and use of existing resources in that region.
He added that the Executive has been doing everything so that companies can not only guarantee transparency and profitability for their employees, but also generate wealth for families in localities who, in many cases, live under poverty.
He explained that the actions to reassess the reserves followed the implementation of a geological study, which showed the existence of proven blocks.
Hence, the continuous prospecting work aims, essentially, to assess the reality of what is being done, in terms of reassessing the potential of the existing blocks, in the Yetwene concession.
About the Yetwene Project
The Yetwene Project is a private project, in partnership with Endiama, after a long standstill since 2009, when the last production was checked by the previous owner of the initiative.
In 2019, the Yetwene Project received a license to start prospecting activity, in a concession of 508 square kilometers.
The Pre-Treatment center (PT) has a daily target of 600 cubic meters of treated gravel, while the other, known as DMS, has around 350.
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