Dundo - The Catoca Mining Society began exploiting the tailings pond for the recovery of small particle diamonds, this semester, with a view to increasing production volumes, the mining company's deputy director-general, Engrácia Soito João, said Wednesday in Dundo, Lunda Norte Province.
She stressed that the decision was the result of a geological study of the tailings pond, which certified the existence of diamonds with some theoretical value.
"We are looking at the tailings pond because we know that there is ore, since the tailings that come out of the treatment plant carry diamonds with a theoretical value," she emphasised.
On the other hand, the official said that the company's management is working on modernising the treatment plants, since the current equipment is already old and does not meet demand.
Without revealing the production levels achieved in the first half of the year, she assured that the targets were met and due to the crisis in the world market, with the fall in the price per carat, the company decided to keep the diamond produced in the period in question in stock.
"There is no problem in meeting our target, but because the price of diamonds is so low, we have preferred instead of selling, to accumulate our production and sell what is necessary to ensure that we have cash, to pay salaries, taxes and workers' social security," she said.
The mining company expects for this year a production of over 6.9 million carats of diamonds and an investment of more than USD 69 million dollars.
Catoca Mining Society is 600 metres deep to be explored until the period of 2027, taking into account that the reserves for this period are around 94 million metric tons.
The company that is located in Lunda Sul province, is the fourth major mine of the world and it is an open-pit mining company, responsible for more than 75% of Angola's diamond production.
The Catoca company, which has been in existence for 29 years, generates the most jobs in the private sector in the province of Lunda Sul, with more than 5,000 direct and indirect jobs. HD/MRA/DOJ
