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Catoca seeks to develop new mines in Angola

05 february 2014

Angolan diamond miner, Catoca, which currently own the fourth largest kimberlite mine in the world, is set to develop new mines in the southern African country.
Instituto Angolano de Sistemas noted in a report seen by Rough & Polished at a Mining Indaba in Cape Town that the company had already completed a feasibility study at Tchuizo, which was the largest of the projects earmarked for development.
It said shareholders would have to make a decision on whether to proceed with the project or not but no details of the feasibility study were provided.
Catoca shareholders included Endiama (32.8 percent), Alrosa (32.8 percent), LLI (18 percent) and Odebrecht (16.4 percent).
Instituto Angolano de Sistemas said Catoca had so far invested $23 million in prospecting and developing the mine, which was expected to have a mine life of about 15 years.
Catoca was also prospecting seven new but smaller projects in Angola.
These were Vulege and Tchiafua in Lunda Norte, Quitubia and Gango in Kwanza Sul, Gambo, Luaxe and Luemba in Lunda Sul.
Meanwhile, Catoca had ordered a new mill to crush ore at its kimberlite mine in Lunda Norte so as to ensure that production capacity remains the same.
It produced 6.7 million carats in 2012.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished from Cape Town, South Africa