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Sat, 22 Jan 2011 09:25 - Updated Sat, 22 Jan 2011 09:23

Diamond company signs partnership deal


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Luanda - The Angolan State-run diamond company (Endiama) Friday in Luanda signed a deal with local firms, Mineralstar and Sovinhos, for the establishment of a partnership, Angop learnt.

The companies will co-operate in the areas of prospecting, research and recognition of secondary deposits in the regions of Cangadala, nothern Malanje province.

Under the contract, once the association reaches the exploration stage, the parties will set up a commercial society, with exclusive right to explore the secondary deposits and trade the diamonds from the mentioned locality, over an area of 3,000 square kilometres.

Endiama holds 33 percent of the commercial society, Mineral Sociedade Mineira (25) and Sovinhos LDA (42).

The deal was signed by the CEO of the Angolan concessionaire, Carlos Sumbula, and his partners Walter Luis Ferreira Beia and Vicente Francisco Soares, representing Mineralstar and Sovinhos, respectively.