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BW2037  OCT 24,2001       4:25 PACIFIC      07:25 EASTERN


( BW)(TX-INDUSTRIAL-INFO-RES) Dredging Angolan Diamonds Beats Rain
Season Hazard, in an Advisory by Industrialinfo.com

    Business Editors

	   HOUSTON--October 24, 2001--The following is an advisory by
Industrialinfo.com (Industrial Information Resources, Inc., Houston,
Texas). When licensing and share details of the Canadian company
SouthernEra have been finalized between the Angolan government and the
mining partners by March 2002, work will be able to proceed on the
Camafuca diamond project which has a diamond bearing kimberlite pipe
with a surface area of 167 hectares. Time and the rainy season are
crucial factors in the venture as the exposed part of the pipe can
initially be exploited by bulk-sampling whereas when the rainy season
hits the 80m wide Chicapa river floods over the area.
	   SouthernEra will use barge mounted dredges fitted with cutting
heads to recover the 23.2m carats worth $2.3 billion. This innovative
technique surmounts the natural obstacles, which have hitherto
prevented the exploitation of the pipe. The Israeli company Welox is
providing funding up to $20 million and will hold 33% of the joint
venture. Endiama, the Angolan government diamond corporation, will
hold 20%. SML, which is a combination of the Portuguese SPE and
Endiama, will take 15% and SouthernEra 32%.
	   Industrialinfo.com provides daily news related to the industrial
market place including industry alerts and databases for the energy
and industrial markets. For more information on trends and upcoming
construction activities for the Metals & Minerals industry as well as
other industrial sectors send inquiries to
metalsandmineralsgroup@industrialinfo.com or visit us at
www.industrialinfo.com.

    --30--JB/na*

    CONTACT: Industrial Information Resources, Inc., Houston
             Joseph Govreau, 713/783-5147

    KEYWORD: TEXAS INTERNATIONAL CANADA AFRICA/MIDDLE EAST
    INDUSTRY KEYWORD: MINING/METALS
    SOURCE: Industrial Information Resources, Inc.

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