Africa-Press – Angola. In 2021, Sociedade Mineira de Catoca (SMC) earned more than US$755 million in diamond mining revenues, worth a net profit of US$270 million for the company’s accounts, according to a note produced at the 69th General Assembly. de Sócios, held Tuesday in the town of Minas Gerais.
The increase in revenues is due to the selfless commitment of the company’s employees. In 2020, the sale of diamonds allowed Sociedade Mineira de Catoca to raise more than 600 million dollars.
The document distributed Wednesday to the press, in Saurimo, highlights that the fact that the profits obtained exceed the figures achieved over the 27 years of the company’s existence, the feat justified the vote of confidence given to Benedito Paulo Manuel, who should continue in company leadership over the next five years.
The partners recognize the difficulties that the team, mostly made up of Angolans, overcame, to design a contract with half of its workforce dismissed, in respect of biosecurity measures, during the duration of the State of Calamity in the country. “Even with a shortage of essential equipment for its normal operation, the company made history”, emphasizes the note.
SMC spokesman Mário Domingos said that the plenary session defined an exchange rate to maintain workers’ purchasing power, given the appreciation of the national currency to the detriment of the dollar. The idea with the indexation of wages to the dollar is to prevent losses in the monthly wages of the more than five thousand workers at the service of Catoca and coming from different regions of the country.
According to the document, Catoca has signed a contract with more than 100 companies of different levels to maintain the company’s activity and is one of the main contributors to the growth of the national economy.
Sociedade Mineira de Catoca Lda is an Angolan diamond prospecting, exploration, recovery and marketing company, in which Endiama (Angola), Alrosa (Russia), and Lev Leviev International – LLI (China) are associated.
The company manages the world’s fourth largest open pit mine and is the largest in the diamond subsector in Angola, being responsible for extracting more than 75 percent of Angola’s diamonds.
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