Africa-Press – Angola. Endiama Mining has invested around 40 million dollars in prospecting projects in Luachimba, Lui de Mena and Sangamina.
The information was recently provided by the general director, Pedro Galiano.
Actions in the mining sector also allowed the re-leveraging and strengthening of other projects, such as Uari and Luembe, which for technical and financial reasons were on the verge of bankruptcy.
Data provided by the manager indicate that Endiama Mining uses all its energy and capacity in drilling and earthmoving work in the Luele project tailings basin.
Pedro Galiano also stated that over the course of five years, Endiama Mining has achieved several social achievements, with major impacts including the distribution of several health and protection kits to the Dundo laboratory and Lucapa hospital in Lunda-Norte during the Covid-19 phase. It has also shared experiences and collaborated with companies such as Catoca and Luele in the province of Lunda-Sul. In the territory of Lunda-Norte, according to the general director, Endiama Mining has been present in the Lui de Mena, Luchimba Sangamina, Luembe and Uari projects, combining expertise in the field of prospecting and exploration of primary and secondary sources, and also holding stakes in the Yetwene, Lulo, Luachimo, Tchegi and other projects in the research and study phase.
In the retrospective presented in the form of a balance sheet, Pedro Galiano also described the need to create a scenario that complies with greater managerial transparency, with the company having acquired and put into operation the SAP financial management system, implemented the ISO quality system, compliance and reporting channel, as well as the adoption of a policy completely focused on social responsibility and sustainability of exploration. Currently, the diamond company has all its accounts audited from 2019 to 2023, with no tax debts, having contributed, in that period, with more than 45 million dollars in tax obligations (basically going from values close to 150 thousand kwanzas, in 2018, to 17 million dollars by 2024).
In terms of workforce, Endiama Mining went from two employees in 2018 to the current 268.
Critical scenarios such as the re-leveraging of the Uari Project, which had a debt estimated at 180 million dollars, with no possibility of resorting to banks for loans and re-leveraging, high debt with AGT due to lack of tax payments, no investments in the environmental and social area, with a completely degraded infrastructure system, fleet of equipment and accommodations, workers with no wages for five months, without health insurance and work accident insurance, required the operator to have high-quality strategies to bring to Uari the necessary resources and partnerships to resume production.
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