Catoca produces 550,000 carats of diamonds in first quarter of the year

3 May 2012

Angolan diamond mining company Sociedade Mineira de Catoca (SMC) in the first quarter of this year produced 550,000 carats of diamonds, the group’s managing director, Ganga Júnior told Angolan news agency Angop.

Production capacity in the January to April period was very similar to that in the last quarter of 2011.

According to Júnior, in 2011 SMC added US$178.6 million to Angolan state coffers, as a result o taxes on diamond mining.

SMC, the company that mines the fourth-largest kimberlitic reserve in the world, has as its shareholders, Endiama (Angola), Odebrecht (Brazil), Daumonty Finance (Israel) and Alrosa (Russian Federation). (macauhub)