Angola Diamond Mine Inaugurated

IGE Resources AB Inauguration its Luxinge diamond mine in Angola. The production at the mine is currently being optimized, the company said, however the mine holds an estimated 1.1 million carats, worth $80-$110 per carat.

The Swedish miner, which holds a number of other diamond assets as well as gold and nickel claims, plans to sell this month 8,000 carats of rough diamonds recovered during exploration.

Angola’s Minister of Mines Geology and Industry, Joaquim David, the Governor of the Lunda Norte province and the Chairman of Angola’s state owned diamond company Endiama were present at the inauguration, underpinning the importance of the Luxinge project to the Angolan diamond industry.

IGE is the largest shareholder of the Luxinge diamond company with a 42 percent interest.

The company’s Cassanguidi mine has been producing diamonds “for some months already,” according to IGE CEO Tomas Fellbom.