Italy
The Fucauma Diamond Mine is a diamond mine under construction in the Lunda Norte Province of Angola. The mine is owned by a consortium of diamond mining companies, the two largest holders being Endiama with 40 percent ownership and Trans Hex with 35% ownership. A feasibility study was done, which in
cluded the second phase of bulk sampling and drilling was completed in February 2004. The result of the study was a plan for a US$15 million capital expansion programme, that would lead to a full-scale mining production capacity of 750 000 m3/year that is anticipated to yield 120 120,000 carats (24 kg) in the first year of full-scale mining. Pilot production was underway early in 2005 with full-scale mining expected to begin six months later. The Fucauma mine is expected to produce approximately 480,000 carats (96,000 g) over a four-year period, providing earnings of US$70 million. Mining operations were suspended in May 2009 due to a decline in diamond demand caused by the Great Recession. Trans Hex announced in August 2011 that it planned to withdraw from its two Angola joint-ventures with Endiama—Fucauma and Luarica—after failing to reach an agreement with the government of Angola (which...
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