Dec 14 (Reuters) - VDM Group Ltd VMG.AX :
* Mining investment contract & share subscription update VMG.AX
* Says ministry of geology and mining of the republic of Angola signed a mining investment contract with VDM
* Says amount intended for investment in the prospecting phase of the project is USD$24 million
* Says VDM will complete copper project acquisition agreement by allotting and issuing 650 million VDM shares to seabank
* Under the payment arrangement, VDM will pay seabank $200,000 in January 2016, $2 million in June 2016, and $2.68 million in December 2016
* Source text for Eikon ID:nASXqvhtM