Jan 20, 2017

Endiama’s 2016 Production Exceeds Target, But Revenue Declines

The National Diamond Company of Angola (Endiama) produced 9.21 million carats of rough in 2016, exceeding the target of 9 million carats set by the government, according to a statement made by its chairman Antonio Carlos Sumbula. He was speakng at the 36th anniversary celebrations of the company held in Lunda on January 15 this year, according to media reports.

Sumbula however, said that the revenue earned during the year, at US$1.079 billion, was US$ 130 million less than the earnings in 2015 on account of lower diamond prices, the reports added.

The Company has now firmed up plans for 2017, which includes carrying out aerial surveys in some of the other regions of the country, and commencing operations at a small mine near Catoca, called CAT 42.

The reports add that the governor of Lunda Sul province, Cândida Narciso, who also spoke at the function, praised the contribution of small artisanal co-operatives to diamond production. She said that the co-ops had drawn most of the formerly illegal diamond miners under their banner, helping them to improve their lives and working conditions. A few of the co-ops were going to be transformed into more organised small companies this year, she added.