Research and Markets: Angola Mining Report Q4 2011 Report - Angola's Mining Industry Currently Dominated by Diamond Exploration and Production

DUBLIN--()--Research and Markets (http://www.researchandmarkets.com/research/948520/angola_mining_repo) has announced the addition of the "Angola Mining Report Q4 2011" report to their offering.

Business Monitor International's Angola Mining Report provides industry professionals and strategists with independent forecasts and competitive intelligence on Angola's mining industry.

Production Figures Disappoint

Preliminary production figures released by the US Geological Survey estimate that total diamond production in Angola remained flat over 2010 at 8.1mn carats, equivalent to the output level seen in 2009, and below the 8.91mn carats produced in 2008, before the onset of the global economic downturn. Further confirmation of weak y-o-y growth in diamond output was revealed by production figures released by Angola's largest diamond mine, Catoca, in July 2011, which showed a slight drop in output at the facility in 2010 on a y-o-y basis. The mine produced 6.741mn carats, equivalent to a 4.5% decrease y-o-y.

Diamond Sector Hotting Up

A recovery in global diamond prices has led to a surge in overseas interest in Angola's diamond mining sector. In July, it was reported that Russian mining company Alrosa, which has owned a 32.8% stake in the Catoca mine since 1990, was planning to expand its operations in the country. Alrosa's vice president Sergey Pushkin said the company was refusing to rule out the possibility of acquiring a further concession in Angola.

Key Players

Angola's mining industry is dominated by diamond exploration and production. Major reserves of diamonds are located in the provinces of Lunda Norte and Lunda Sul. Local firms dominate the market, with state-owned Endiama the exclusive concessionary of mining rights for diamond-mining in Angola. Sociedade Mineira de Catoca (SMC) operates the Catoca mine, the world's fourth largest kimberlite facility. SMC is 32.8% owned by state-controlled Endiama, 32.8% by Russian concern ALROSA, 16.4% by Odebrecht and 18% by Israeli company LLI Holding.

There is increasing interest from overseas firms, with companies such as Trans Hex Mining, a South Africa-based miner, making entries into the market in recent years. The company has a stake in the Luana, Luarica and Fucauma mines.

Companies Mentioned:

  • Endiama
  • Sociedade Mineira de Catoca
  • Trans Hex Mining

For more information visit http://www.researchandmarkets.com/research/948520/angola_mining_repo

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716