Second diamond polishing plant to open in Angola, says Sodiam CEO
The director of the Angolan diamond trading company Sodiam said a second diamond cutting and polishing plant should be established in Saurimo in February.
Neves Silva, Sodiam's CEO, said the plant, which is part of the company's strategic plan for 2018-2022, will initially be able to process 4,000 carats of rough diamonds a month, according to a report on Macauweb .
The plant, which is estimated to cost $ 10 million, will start operating in August and will have more capacity than Angola Polishing Diamonds, the country's only polishing plant at the moment.
In addition to the plant, the construction of an industrial development center on an initial area of five hectares, will also include a training center, a hotel owned by the national diamond exploration company Endiama, and other services such as banks and a tax office.
Neves Silva said the new plant is part of a partnership between Sodiam and the Chinese companies Cbritec and Perfect Wealth Ltd, and will be built near Sociedade Mineira da Catoca.
Diamcor Third Quarter Final Call: $ 195.66 Avg. Price per carat
Diamcor Mining Inc. sold 1,905 carats of rough stones from its project
Krone-Endora in Venetia for $ 303,138.39, for an average price of $ 158.60 per carat.
The company bid on 2,256 carats of rough diamonds; the remaining 351 carats will be delivered along with other rough diamonds delivered by the company in January.
Total rough diamonds offered and sold in the third quarter of the year was 7,1621 carats, for gross proceeds of $ 1.4 million, resulting in an average price of $ 195.66 carat for the period.
This represents a 64% increase in recovered carats and a 62% increase in realized revenues compared to recoveries of 4,353.91 carats and revenues of $ 864,546 for the same period last year.
Lucapa Diamond Company Limited has declared an $ 8 million distribution and a loan repayment.
Of this $ 8 million, half will be distributed to partners of the Lulo mine in Angola, with Lucapa receiving $ 1.6 million, which corresponds to its 40% stake. The remaining $ 4 million will be a loan repayment to Lucapa.
The $ 8 million payment will come from the cash reserves of SML, the group that operates the Lulo alluvial diamond mine, of which Lucapa is a member.
Lucapa said Lulo produces the world's highest alluvial production per carat. The diamond mine has been producing diamonds for commercial purposes since 2015 and employs 390 workers and contractors, 87% of whom are Angolan nationals.
SML's latest statement follows the repayment of an $ 8 million loan and the distribution declared to Lucapa and its partners in March 2017, and this is the third year in a row that a distribution has been made by Lulo .
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