Exploration Resumes At Angola's Promising Luaxe Deposit

Mining and Exploration
25/01/2021 13:52

Rough & Polished reports Angola's authorities have greenlighted the further exploration of the Luaxe concession, located roughly 20km from the Catoca mine, jointly operated by the Angolan governement and Russian miner Alrosa, consisting of one of the most promising deposits discovered in over a decade worldwide. Experts believe the concession has a potential reserve of 350m cts, and estimated annual production of 10m ct, which would effectively double the country's annual output and thus also generate significant aded value in terms of state revenue.