ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage



Home » News » Economy

Wed, 15 Jan 2020 20:15 - Updated Wed, 15 Jan 2020 20:15

Endiama negotiates De Beers return

Luanda - The Angolan National Diamond Company (Endiama) is negotiating the return of De Beers to Angola and the entry of Rio Tinto, the world's largest mining companies, announced the chairman of Endiama's board of Directors, Ganga Júnior.

Send by email

To share this news by email, fill out the information below and click Send


To report errors in the texts of articles published, fill out the information below and click Send


Photo: Pedro Parente

The manager, who was speaking in an interview with the Jornal de Angola, published in its today edition acknowledged that it is important to have these companies back to support the national sector, make money, as well as raise the production.

He said it was an asset that these multinationals entered the process of privatization of Endiama.

"With De Beers, we have been talking, as it was in Angola, is an old partner and is interested in returning," he said.

On the other hand, he said that Endiama intends to join the stock market in 2022.

Being on the stock market means having absolute transparency, the accounts must be open and we cannot have management reports full of reserves," the manager acknowledged in an interview with Jornal de Angola.

There has to be transparency anyway. If this is our goal, then the problems must be solved by 2022.

He explained that the important thing is that the entry of Endiama in the stock market will not assume the loss of control by the state.

In this interview, he stated that the percentage to be released is not yet defined definitively.

But everything points to the state continuing to hold a stake of not less than 70 percent of the capital.

Regarding the company's performance, he noted that in 2017 the accounts pointed to a loss, but already in 2018 the picture was reversed and the profit was about 7 billion kwanzas, which at the time corresponded to about 22 million dollars.

For 2019, he said, the strategy was to maintain more or less this positive result line, although it was an extremely difficult year of investments of around US $ 90 million (using own funds).

"We are creating the conditions for a stronger Endiama," he said.

Read also
  • 14/01/2020 12:09:49

    Semi-industrial diamonds mining in Angola might shut down

    Luanda - The Angolan diamond sector might put an end to semi-industrial mining, aiming to provide more competitiveness, transparency and efficiency to the activities in the sector, announced last Monday, the chief executive officer of the state-owned National Diamonds Company (ENDIAMA), Ganga Júnior.

  • 14/01/2020 12:03:05

    Diamond sector with additional revenue of USD 34.7 million

    Luanda - Angolan diamond sector generated USD 1.2 billion in 2019, representing 10 percent increase from additional USD 34.7 million revenue compared to 2018, said the CEO of Diamond Firm Endiama.

  • 09/01/2020 10:01:13

    Transformation of Namibe's mining potential into wealth defended

    Mocâmedes - The minister of Natural Resources and Petroleum, Diamantino de Azevedo, reinforced last Wednesday in Mocâmedes, capital of the south-western Namibe Province, the need to turn the region?s mining potential into real wealth.