ANGOLA
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Leviev sells Angola diamond mine stake for reported $380m profit
Real estate magnate Lev Leviev has sold his 18% stake in Angola's Catoca diamond mine to China's Sonangol International for $400 million, Russia's "Kommersant" newspaper reports. Leviev acquired the stake in the Angola mine in the 1990s for $20m. Russia's state owned diamond producer Alrosa holds 32.8% of Catoca.
Last week Alrosa provided a rare glimpse into its finances and operations ahead of a possible public offering. The state-owned company supplies about a quarter of the world’s diamonds and in 2010 produced more of the precious stones than De Beers, historically the dominant miner and marketer of the gems.
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Metalex discovers another large (18Ha) kimberlite in Angola
CNW Telbec | Mining/Metals | March 21, 2012Metalex Ventures Ltd. (TSXV : MTX) ("Metalex", the "Company") is pleased to report that our geological field technician reports that kimberlite has been intersected while core drilling a 18 hectare geophysical target underlying the flood plain of the Cuango River in Angola.
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Angola blood diamond case: Bermuda firm cited
Bernews | March 4, 2012Angola’s attorney general has summoned witnesses to testify in a case involving a Bermuda-registered mining company which implicates some of the top figures in the country’s military and security establishment in acts of torture and murder in the diamond fields of north-eastern Angola.
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Angolan polished diamond output at only 20% of capacity
MiningReview.com | November 10, 2011- The Angolan state diamond cutting company, Angola Polishing Diamonds (APD), is producing polished diamonds at a rate of only 20% of its design capacity. This was revealed here by company managing director Miguel Bondo Júnior during a visit by milita…
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New couples and consumers in smaller cities driving China diamond sales
China Daily | November 9, 2011China Daily reports the fifth-largest diamond producer in the world said on Tuesday that China's demand for the precious stones will steadily increase in spite of rising prices. Empresa Nacional de Diamantes (Endiama), the national diamond company based in Angola, said that the Chinese market had accounted for up to 40 percent of its exports annually on average over the past three to five years.
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Mining firms invest USD $9 million in diamond prospecting in Bié, Angola
MINING.com Editor | September 25, 2011AngolaPress reports at least USD 9.0 million was invested in diamond prospecting the central Bié province by three private mining companies.
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Endiama head: $150m invested in diamond prospecting in past 6 years
Israeli Diamond | September 25, 2011Over the past six years, Endiama – a joint diamond production venture between De Beers and the Angolan government – has invested $150 million in prospecting for diamonds in Angola’s Lunda Norte Province, Endiama administrator Pedro Lago de Carvalho told the ANGOP news agency during the recent Luanda International Mining Fair (FIMA).
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ANNOUNCEMENT
Developments in Gossan’s Magnesium Project Paper Presented at the 69th World Magnesium Conference
Gossan Resources Limited's Technical Advisor, Dr. Zuliani, will be delivering a paper entitled, "Developments in the Zuliani Process for Gossan Resources’ Magnesium Project" at the 69th Annual World Magnesium Conference on May 22th in San Francisco. The conference, sponsored by the International Magnesium Association (IMA), focuses on current developments throughout all aspects of the magnesium industry. View Press Release -
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