Angola’s Sociedade Mineira do Catoca wants to be world’s 3rd largest diamond exporter

2 May 2013

Angola’s Sociedade Mineira de Catoca plans by 2020 to be the third largest diamond exporting company in the world, according to its strategic programme, said the company’s managing director, Ganga Júnior.

Cited by Angolan news agency Angop, Ganga Júnior said a strategic programme called Vision 2020 had been approved, which outlined that the company’s turnover would grow from 60 billion kwanzas (US$623 million) currently to 150 billion kwanzas (US$1.558 billion).

In 2012, the managing director said, Sociedade Mineira do Catoca posted turnover of 57.9 billion kwanzas, with net profit of 13.5 billion kwanzas, or 15 percent less than the previous year.

Ganga Júnior said that feasibility studies were underway at the concession of Gango, in the Quibala municipality, Kwanza Sul province, of Luaxi, in Lunda Sul province and in Luangue, in Lunda Norte province.

The managing director of Sociedade Mineira do Catoca also said that negotiations were underway with the Zimbabwe Mining Development Corporation, in order to launch its internationalisation process. (macauhub)