MODERNIZATION PROJECT Angolan MINE
Diamond miner Trans Hex said yesterday that the project capital increase in the $ 6 million has been approved for the joint venture in Laurica Lucapa, Lunda Norte Province (Angola), in which the company has a 35% share. The project is a partnership between the Angolan state-owned diamond company Endiama (40%), the two Angolan companies, Micol (12,5%) and Som Veterang (12,5%) and the company Trans Hex. At the presentation of the annual report of the company Llewellyn Delport said that mining companies Laurica remains stable at a level of 96 000 carats a year, in spite of the heavy rains in January-March. It was generally sold 98,000 carats at an average price of $ 300 per carat. The cost of production of one carat is 242 dollars.
However, Mr Delport said that the planned modernization, along with other efforts to increase production and reduce costs, should significantly improve the cost structure. In the future, he expects that by the end of the level of production will rise to 100,000 carats per year, and monthly production - up to 14,000 carats by March next year. Six million dollars have been allocated from internal resources association Laurica, and will be used for the purchase of new production equipment, third-washing plant and adjustment works.
Ordering the equipment has already been made and the commissioning is also installed, according MINING WEEKLY.
