Sodiam diamond company has new articles of association

30 December 2013

The Sociedade de Comercialização de Diamantes (Sodiam) has new articles of association, which according to the respective presidential decree are meant to strengthen control by Angola’s Empresa Nacional de Diamantes (Endiama), reports Angop news agency.

Under the new articles of association Sodiam will be run by an executive committee appointed by the majority shareholder, Endiama, which controls 99 percent of the company’s capital. The remaining 1 percent is in the portfolio of the Angolan State Shareholding Institute.

The Sociedade de Comercialização de Diamantes was founded in 1999 and mainly concentrates on lapping and marketing diamonds mined in Angola.

The company controls 100 percent of Sodiam Antwerp, which is responsible for direct sale to buyers of diamonds mined in Angola, and has representative offices in China, the United Arab Emirates, Israel, Belgium and Switzerland. (macauhub)