Angola’s dream of becoming a global mining powerhouse is becoming a reality with the opening of the Luele diamond mine. Situated in the northeastern Lunda Sul province, this project is set to revolutionize Angola’s economy and has garnered attention from experts and investors worldwide.
Discovered in 2013, the Luele mine boasts an impressive 628 million carats in estimated reserves, making it a key player in the diamond industry. With an expected lifespan of 60 years and initial investments totaling $635 million, the mine is poised to have a significant long-term impact.
Production is scheduled to begin at 5 million carats annually, with plans to increase to 6 million, potentially doubling Angola’s current diamond output. The economic benefits are substantial, with projected export revenues of $60 million annually during the initial phase and the creation of over 1,000 jobs once fully operational.
With a ownership structure that includes public and private interests, the Luele mine is equipped with advanced technology and aims to triple its processing capacity within three years. This ambitious project marks a new era for Angola’s diamond industry, positioning the country as a major player in the global market.