Angola is working on its ambitious plan to become a global mining leader, with the Luele diamond mine project at the forefront of this strategy.
The Luele mine, located in the Luaxe kimberlite deposit, is not only the largest diamond mine in Angola but also ranks among the largest in the world. Officially inaugurated in November 2023, the mine is projected to significantly enhance Angola’s diamond production capacity. With an estimated 628 million carats of diamonds and a lifespan of 60 years, the Luele mine is expected to double the country’s output, further cementing Angola’s leadership in the diamond mining sector.
The Luele diamond mine is expected to generate substantial economic benefits, including a potential annual turnover of USD 2 billion. ENDIAMA, Angola’s national diamond company, and the state-owned Catoca Mining Society, which holds a 50.5% stake, are the key shareholders in the project. Other stakeholders include Falcon, Reform, and the Geological Institute of Angola. With an initial investment of USD 500 million, the project is set to produce 20 million carats per year, creating significant opportunities for the Angolan economy, employment, and infrastructure development.
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Prospection for the Luele mine began in 2007, and the mine was officially discovered in 2013 by the Catoca Mining Society. During its pilot stage, the mine produced 5 million carats of diamonds. Mining operations officially began in November 2023, with an expected operational lifespan of at least 40 years. The mine’s infrastructure includes a plant with an annual processing capacity of 4 million tonnes of ore, which will be scaled up to 12 million tonnes over the coming years. The project is anticipated to employ 1,500 workers, further contributing to Angola’s economic growth.
As one of the most significant diamond discoveries in over 50 years, the Luele mine project will play a crucial role in boosting Angola’s international mining reputation. Its advanced technologies and processing capabilities are key to maximizing diamond production while creating jobs and supporting sustainable development. The project aligns with Angola’s broader goals of increasing foreign investment and solidifying its position as a global diamond mining powerhouse.
