Angola, De Beers Extend Mining Moratorium - April.2003
The State Diamond Mining Company of Angola (Endiama) and De Beers have
agreed to extend their moratorium. The two parties are working on the completion
of a diamond exploration and mining deal.
"The moratorium had been extended on the basis of the steadily improving
relationship between the two parties and continuing good progress with their
discussions," says Jose Semedo of Endiama and Gaspar Cardoso of De Beers.
A new deadline for completion of a deal has not been set.
The moratorium agreement was signed on October 2002 and has been extended
several times. For the past three weeks the negotiating teams have focused on
De Beers’ prospecting proposals in line with that company’s commitment to
invest a significant amount of money to cover all stages–from prospecting to
mining, and marketing its diamonds world-wide through De Beers’ Diamond
Trading Company, according to the statement. v | 
