Africa-Press – Angola. The chairman of the Board of Directors of ENDIAMA EP, Ganga Júnior, Friday called on diamond exploration companies to focus on expanding the value chain of the strategic mineral, with a view to increasing turnover levels.
Speaking at the end of the semi-annual diamond production review meeting, Ganga Júnior recommended companies to structure themselves, so that in the short, medium and long term, they can invest in cutting factories and in the jewelry industry.
It revealed that in 2022, diamond producers earned USD 16 billion (USD), cutters USD 21 billion and the jewelry business with the precious stone generated USD 74 billion.
He added that the figures show that Angolan companies need to start thinking about expanding the value chain, so that they can gradually begin to cut their own diamonds and produce jewels.
The official also recommended companies to restructure their geological-mining research programmes, with a view to obtaining better results, as far as the discovery of new diamond reserves is concerned, with a view to increasing production volume.
He said that companies should also have a strategy for exploring diamonds in classes that are unlikely to be affected by the drop in mineral prices on the market, as is the example of the Lulo mine.
Taxes and Social Security
Ganga Júnior, appealed to some companies that avoid paying taxes and Social Security for workers to resolve this, under penalty of being held accountable.
“I want to draw attention here to the care that we must have in relation to the tax contingency, which is extremely important, because our practice is already pointing to me personally spending a good part of my time at AGT to save some companies for non-compliance”, he stressed. .
association and energy
He defended the creation of an association of industrial producers to reinforce discussions on common problems in the sector and the search for solutions and/or resolution strategies.
He encouraged companies operating in the municipalities of Cambulo and Lucapa to create a partnership with the Government, financing the construction of the transport network for energy produced at the Luachimo hydroelectric dam, with 34 megawatts, with a view to benefiting from the product and reducing costs with fuels.
“We can finance the construction of a distribution network and in return, in a negotiation with the Government, we will have cheaper energy with economic advantages.
He also defended the creation of a logistics and purchasing center , so that companies save resources in the acquisition of various edible products and more .
During three days, the diamond companies took stock of production over the last five years, the operational situation of the first half of this year, as well as carrying out an economic and financial analysis.
Human resource management, social responsibility programs and corporate constraints were part of the agenda.
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