Mirny Diamonds

ALROSA BUYS MAJORITY SHARE IN ANGOLA’S BIGGEST DIAMOND MINE

Angolan national diamond company Endiama President Antonio Carlos Sumbula and Alrosa President Sergey Ivanov have signed an agreement that gives the Russian miner a 50.5% stake in Angola’s Luaxe rough diamond deposit. According to Gem Konnect, Luaxe is the largest diamond deposit in Angola, and Alrosa estimates it holds diamonds “worth $35 billion”.

 

The Luele kimberlite pipe in Luaxe, which Alrosa has been exploring since 2013, “is said to be the largest to have been discovered in 60 years”.

 

Ivanov commented: “The Luele pipe is the largest of all those discovered worldwide over the past 60 years, since the discovery of deposits in Yakutia […] The total commercial value of the deposit is assessed as over $35 billion”.

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