Angolan state diamond company Endiama said it is in talks with Russia's Alrosa, its partner in kimberlite project Luashe (Luaxe), to finance the project, and will not seek additional investors.
Endiama and Russian diamond giant discovered kimberlite Luashe in 2015.
Macauhub quoted the Director General of Endiama sumbul Carlos (Carlos Sumbula), who noted that the diamond company will raise funds on their own.
ALROSA President Andrew Zharkov said in September last year, capital investment in Luashe project for the whole of its life cycle are estimated at $ 1 billion.
Luashe was designed to have an annual capacity of 8 to 10 million carats.
Kimberlite is larger than the field Katoka (Catoca), which is currently producing about 80% of the total volume of diamond mining in Angola.
Catoca is the fourth-largest kimberlite in the world and also in the equally owned Endiama and Alrosa.
At the same time, Sumbula said that Endiama slightly reduce production in order to increase revenue before development Luashe.
"When the company was producing 8 million carats per year, our revenue was $ 1.2 billion, and in 2016 the production of 9 million carats revenue fell to $ 1.07 billion," - said Sumbula.
"We intend to work towards getting more income by a decline in production", - he concluded.
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Diamonds from Rio Tinto from the Argyle mine in Western Australia have become a central part of the unique teamwork with the main Chinese jewelry company Chow Tai Fook to celebrate the five-year cooperation between the two companies.
The jewelery collection "Sunshine" by Chow Tai Fook is a series of modern rings, earrings and pendants with white and pink diamonds with Argyle. These products will be shown to the public at the premiere of the Australian Ballet tour in China for 2015, which will be held in Beijing.
The "Sunshine" collection from Chow Tai Fook is the newest of a series of joint projects with Rio Tinto aimed at the unique cooperation and development of new products and markets for diamonds in China. Each piece of jewelry comes with a certificate of authenticity so that buyers can be assured of their diamonds, and that they come from one of the most remote corners of Australia.
Alan Davies, Rio Tinto's chief executive officer for diamonds and minerals, said: "Our partnership with Chow Tai Fook has allowed us to get such opportunities for development in the Chinese market that we could only dream of five years ago. Jewelry with diamonds mined in Argyll is sold in more than 2000 stores across mainland China.In just five years, we saw the birth of a completely new market for diamond jewelry.
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