Angolan diamond mine says Russia sanctions could hurt operations | Russia-Ukraine war News


Endiama, which holds the unique concession for diamond mining rights in Angola, has already flagged an virtually one-third discount in diamond output this yr.

Angola’s state-run diamond miner Endiama may face a success to its operations as Western sanctions on Russia may delay provides of components and equipment, in response to a authorities brochure.

The federal government publication was made out there on the Mining Indaba convention in Cape City on Monday.

Western nations have unleashed crippling financial sanctions in opposition to Russia after Moscow’s invasion of Ukraine in late February.

Endiama, which holds the unique concession for diamond mining rights in Angola, has already flagged an virtually one-third discount in diamond output to 10.05 million carats this yr, from a forecast 13.8 million carats.

The corporate expects income of about $1.42bn from the sale of its diamonds this yr.

“One of many nice challenges for 2022 will definitely be to keep up the sustainability of the mines whereas the struggle between Russia and Ukraine lasts,” mentioned the federal government brochure, “for the reason that sanctions that america and Western international locations have imposed on Russia might have an effect on some nationwide mining firms, delaying the provision of some equipment, components and spares.”

Endiama has signed contracts with Rio Tinto to discover its Chiri mine within the Angolan province of Lunda Norte, whereas one other undertaking, Luaxe, was additionally anticipated to start pilot manufacturing, it added, with out offering a timeline.

Final month, diamond miner De Beers signed two mineral funding contracts with the Angolan authorities, the Anglo American subsidiary mentioned forward of a return to the nation it left in 2012.

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