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Angola: Catoca mining yields US$40M

The Mining Company of Catoca (SMC) has produced from January to date, USD 40 million.

The data were released by the company’s general director, Sergei Amelin, while speaking at a ceremony marking the Miner’s Day, 27 April.

The manager put at 2.2 million carats of diamonds produced in above period.

After expressing satisfaction at the results achieved so far, Sergei Amelin said that the company will continue to work on the goals set out.

The manager said that the company plans to produce about seven million carats of diamonds in two mining areas (central and CATE-42) this year.

Taking advantage of technologies available at Catoca, raising the morale of workers through increasing the salary and promoting strategic training actions, are crucial to achieve this goal, he said.

Sergei Amelin also pointed out reduction of operational and specific costs, permanent implementation of strategies to increase productivity, among others, as the challenges of the company in the current economic year.

On the prices of diamonds in international market, the manager considered stable, adding that the prices may improve in the near future.

The manager alluded to the closure of one of the largest diamond companies in Australia which, according to him, will contribute to about 15 percent drop in production in the market, and enable Catoca to increase its supply.

Catoca Mining Society is the country’s largest diamond company and the fourth in the world.

The Society is tasked with prospecting, exploration, recovery and trading of diamonds,

In addition to Kimberlito of Catoca, which operates in eastern Lunda Sul province, the company has a majority stake in concessions such as Luemba, Gango, Quitúbia, Luangue, Vulege, Tcháfua and Luaxe.

Source: Angop

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