ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage
Luanda

Max:

Min:

Home » News » Economy

Mon, 18 Dec 2017 06:40 - Updated Mon, 18 Dec 2017 06:41

Lack of money hampers diamond exploration

Saurimo - Ten companies duly licensed to explore diamonds in various areas of Lunda Sul province are paralyzed due to lack of funds to develop activities.

Send by email

To share this news by email, fill out the information below and click Send

Correct

To report errors in the texts of articles published, fill out the information below and click Send

DIAMonds

Photo: ANGOP

This was said to Angop on Sunday by the provincial director of Geology and Mining, Gildo Massua.

He said that the companies were expected to carry out concrete projects and conduct more profound feasibility studiese to assess the real conditions for the exploitation of the geological reserves in terms of diamonds.

According him, the Kimberlito that exists in Lunda Sul province is very good, but to be exploited it requires high investments and cutting-edge equipment, unlike the provinces of Lunda Norte and Malanje that can be exploited with normal means.

He advised owners of companies licensed to do so to work with commercial banks to obtain financing for the purchase of machines capable of properly exploiting diamond and other minerals.

He added that the Mining Society of Catoca continues to exploit diamonds through sophisticated means and contributes to the national economy in the development of the province of Lunda Sul and in various sectors.

Gildo Massua stated that the Provincial Directorate of Geology and Mining in Lunda Sul controls 36 cooperatives and only two are in the prospecting phase while the others seek funding to start operating.

Read also
  • 14/12/2017 11:29:15

    Tourist movement increases in Lunda Sul

    Saurimo - At least 4.939 domestic and foreign tourists visited the north-east Lunda Sul province from January to November, a figure that represents the double of tourists who visited this part of the country in the same period of 2016.

  • 08/12/2017 10:16:39

    Citizens appeal for better roads repair works

    Saurimo - Citizens who drive through the Luanda/Malange/Saurimo road last Thursday appealed to the government to give priority to the rehabilitation of national, secondary and tertiary roads, aimed at improving vehicles circulation and stimulate citizens to regularly pay the Road Tax.

  • 05/12/2017 07:53:44

    Tax Administration maximises revenues

    Saurimo - The Seventh Region of the General Tax Administration (A.G.T), in the eastern region of the country, intends to maximise the fiscal revenues, with a view to enabling the state to increase public spending, the institution’s regional director, Inácio Morão, has said.