ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage



Home » News » Economy

Wed, 20 May 2020 15:05 - Updated Wed, 20 May 2020 15:02

Covid-19: Catoca shuts down diamond processing factory

Luanda - The Catoca Mining Society closed one of its diamond processing factory and suspended the prospecting work in other concessions, as crisis management measures, due to the covid-19, according to a note from this diamond explorer.

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

Catoca Mine, in Lunda Sul, where some activities have been suspended due to Covid-19

Photo: Hélder Dias

Likewise, the report states that the Mining Society readjusted the volumes of the production plans with the postponement of some investments and the better monitoring and reduction of the main expenses and inputs used in the production process, such as energy, water, fuel and material used in the emulsion process.

The measures, figured into greater attention, with a view to reducing costs, include spare parts and the suspension of new contracts, at a time when the international diamond markets are closed, as a result of the covid-19 pandemic.

Therefore, at this point, the statement said that the “diamonds are not bought or sold, and as a result the companies in this sub-sector have stopped earning revenue, like India, Angola's largest diamond cutter, which is in a stagnant market, with large cut and raw stocks".

According to the Catoca document, with the State of Emergency, decreed in almost all countries, there were some restrictions, such as the closure of some factories and the difficulty of exporting goods unrelated to combating and preventing covid-19, food and other specific goods.

Tags Diamonds  

Read also
  • 16/05/2020 10:57:05

    Diamond production in Angola bellow expectation

    Luanda - Angola will produce, during this year, eight million carats, two million less than the previous years, announced last Friday the president of the National Diamonds Company (Endiama), Ganga Júnior.

  • 08/05/2020 14:31:31

    Lulo diamond mine operates at 50 percent

    Luanda - The Lulo diamond mine, in the province of Lunda Norte, is operating at 50 percent of its installed capacity, ANGOP learnt Thursday from the Management Board Chairman, Domingos Alfredo Machado.

  • 19/01/2020 10:41:14

    Endiama workers get social security payments

    Luanda - The National Diamond Company (Endiama) announced last Friday, in Luanda, that it has completed the payment of social security contributions to workers of the paralyzed companies, namely the Lucapa, Luarica, Fucaúma, Luxinge and Yetwene Mining Society.