Ver Angola

Raw Materials

Yetwene diamond project restarts production after 20 years of stoppage

The Yetwene mining company, in Lunda Norte province, restarts production this Thursday with a new shareholder structure, which has invested 26 million dollars in the project, abandoned for over 20 years.

: Yetwene

With the end of prospecting and delivery of the mining exploration title, the mining company that integrates Mountain Stabiloity, a multinational based in Angola with subsidiaries in Portugal, the United Arab Emirates and South Africa (65 percent) and the state-owned diamond company Endiama ( 30 percent) and All Magic Lda (5 percent).

According to a press release, so far, US$26 million has been invested in the project in prospecting, research, recognition and evaluation of diamond deposits, as well as construction of technical and social infrastructure.

The geological-mining investigation phase began in 2019, followed by the exploration of secondary diamond deposits, over a length of 508 kilometres, with 217 workers having been recruited.

“Complying with the objectives and guidelines on employability, set out in the partnership with the central and local executive, the Yetwene project entered into a partnership with universities and medium polytechnic institutes in the provinces of Lunda Norte and Lunda Sul, to grant professional internships to recent graduates. ”, says the company in a statement.

Alongside the generation of direct jobs, so far more than 300 indirect jobs have also been created.

The Yetwene mine was subjected to exploration over several decades by Diamang, Diamond Works, Branch Energy and Mining B.V-Yahalon of the mining group Lev Leviev, owned by the Israeli magnate of the same name, and was abandoned in December 2008.

Lev Leviev was meanwhile sold to China Sonangol International Holding, linked to former vice-president Manuel Vicente, changing its name to Lev Leviev International, with its stake in the Catoca mine being transferred to the State last year.

In the area of the Yetwene mine, from the mid-1950s to the beginning of the 1970s, more than 2000 wells were drilled by the ex-Diamang over a 16-kilometre stretch on the banks of the Tchicapa and Lumanhe rivers, which made it possible to estimate alluvial resources in the order of 2,500 .000 cubic meters of ore containing over 750,000 carats of diamonds.


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