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Endiama Signs $50M Exploration Deal

Jul 25, 2012 2:37 PM   By Jeff Miller
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RAPAPORT... Angola's National Diamond Company (Endiama EP) and  Endiama Mining, which is a subsidiary of holding companies Sitramal, Jall, Saccir and Solaris, signed a $50 million exploration agreement this week.

The deal focuses on prospecting in Cacuala in eastern Lunda Norte, according to Angola Press, and the project carries an initial investment of $25 million. The funds could be increased $15 million with certain milestones. A second contract will focus on exploring for diamonds in Yetyene with an investment of $10 million.

Tags: ENDIAMA, Jeff Miller
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