Cassanguidi

Status

No IGE liability in Angola (Cassanguidi) after agreement with Asia Diamond Corporation affilitate.
Royalty agreement; 5 % of profits from defined sales volumes.

 

Legal system and tenure

All foreign companies mining diamonds in Angola are obliged to have some form of partnership with the State owned company, ENDIAMA. Marsanto LDA, an Angolan company holds the mining license over the area. The license, in the form of an operating contract with Endiama, was signed under the PROESDA system in 1997. This system allows Angolan companies, where permitted, to explore and mine a concession free of any kind of equity participation obligation.

Local geology

The basement comprises strongly weathered granite. Weathering extends to a depth of several metres. Enclaves of weathered amphibolite, representing xenoliths of greenstone lithologies, are seen in the trenches, and a large remnant of greenstone has been mapped. Although the Calonda and grés polymorphe are expected to be present in the concession, they are not exposed. Other than in the river valleys, the concession is covered by an overburden of Kalahari sand.