Ministry of Geology and Mines of Angola has announced the expansion of the territory in the search for diamonds based on a semi-industrial province of Malanje (Malanje), IDEX Online reported with reference to macauhub.com.
Cooperatives diamond miners are now allowed exploration activities in the province in the territory of more than 410 square meters. km. The first such resolution was cooperative Milanda Kunda, it has been issued on the semi-industrial diamond exploration on the 30-mile rectangular area. Cambo Sungingi cooperative in the municipality Kaombo received a second resolution on an area of 224 square meters. km. Cooperative Kabuto received third concession to an area of 160 sq. km.
Concessions are valid for one year and may be extended for another four years. Cooperatives are obliged to provide technical and economic reports Angolan national diamond company Endiama.
In December, in Angola were mined and sold 880,100 carats worth $ 104.7 million and the average price was $ 118 per carat. Ministry of Geology and Mining has also published the data for November 2015 show that 796,700 carats worth $ 99.29
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According to a recently published report by the World Gold Council (WGC), demand for gold in India increased by 13% in July-September to 268.1 tonnes, largely due to a drop in prices for this metal at the beginning of the reporting period.
Demand in the corresponding period last year amounted to 238.2 tons. In terms of value, demand increased by 5.8% to $ 9.5 billion, compared with $ 9 billion a year earlier. This is evidenced by the latest WGC report on trends in demand for gold.
PR Somasundaram, Managing Director of the WGC Indian Division, said: "There has been a 13% increase in demand for gold in July-September, while a fall in gold prices at the beginning of the third quarter helped make purchases on the eve of the festival and wedding season ".
In the third quarter, demand for jewelry rose 15% to 211.1 tonnes compared to 184.2 tonnes in the same period last year. In value terms, jewelry demand increased by 7.7% to $ 7.5 billion, compared to $ 6.9 billion a year earlier.
"Although the demand for jewelry continues to dominate the overall background, amounting to 211 tons in the third quarter against the record level of the third quarter of 2008, 213 tons, the demand for gold jewelry and gold for investment also increased - by 15% and 6% respectively. This may indicate a permanent dependence of household investment on gold and long-term confidence in this precious metal, "Somasundaram added.
In the third quarter, investment demand for gold increased by 6%, to 57 tons, compared to 54 tons last year. In terms of value, Investment demand was virtually unchanged, down 0.8% to $ 2.02 billion from $ 2.04 billion a year earlier.
The total volume of gold imports also increased by 24% to 300.6 tons during the quarter, compared to 242.6 tons in the same period last year. It is expected that the demand for gold in India will remain high in the 4th quarter.
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