Energy Capital & Power’s Post

Angola’s Luele Mine, the largest diamond mine in the country – has started operations, with President João Lourenço inaugurating the project this week. Operated in partnership with Angolan state firm Endima, Falcon, Reform and the Geological Institute of Angola – the 600m deep mine is expected to double Angola’s diamond production. Comprising 647 million tons of ore reserves, the project is anticipated to yield 628 million carats over its 60-year lifespan, with annual production set to rise from the trial phase’s 5 million carats to 6 million carats. Annual export revenue from the project is expected at $60 million during the initial phase of the mine. The launch is expected to bolster investments within Angola’s mining sector, contributing to overall economic growth. Read more here: ⬇️ https://hubs.la/Q02bbhMJ0 #ECPNews #Angola #EconomicGrowth