Africa Monitor Intelligence
Angola: Luaxe Project Backlash for Ganga Jr. at ENDIAMA
Internal opposition to ENDIAMA's CEO, JOSÉ Manuel Augusto GANGA JR. (JGJ), has been increasing in key company circles, mainly due to management decisions understood as protecting personal and group patrimonial interests, to the detriment of the company and workers in general.
The focus of particular internal dispute is the constitution, by order of the CEO, 02.OCT, of the technical management group for the Luaxe project, Lunda Sul, identified by industry sources as the main kimberlite to enter into exploration in the country in the coming years. ENDIAMA's internal estimates, based on geological surveys, point to a production potential of more than 300 million carats. Estimates of annual production in "cruise" phase point to between 7-8 million carats. ENDIAMA's total production in 2019 was 9.1 million carats.
In line with his predecessor, the Minister of Mineral Resources, Oil and Gas, DIAMANTINO Pedro de AZEVEDO (DA) has been giving priority to the partnership with ALROSA, shareholder at the SMC mine, and the main mining company in the country. ALROSA intends to extend the partnership with ENDIAMA to the Luaxe mine.
SERGEI IVANOV, CEO of ALROSA, signed on APR.2019 with ENDIAMA, during JL's visit to Moscow, an agreement that provides for the financing of joint projects in existing and future concessions, in addition to collaboration in the international rough and polished diamond market.
De Beers, which in recent years has paralyzed its activities in the country after the exhaustion of the Mulepe-1 kimberlite concession, has been requesting a new area from the Ministry of Mineral and Petroleum Resources, which was not granted so far, but contacts are ongoing (AM 1228). READ MORE