Our main role is to inspire consumers to consider diamonds - Jean-Marc Lieberherr

With over 25 years of experience in a variety of leadership positions across many geographies, functions and businesses, Jean-Marc Lieberherr has more than 10 years’ experience as a diamond industry leader, which includes as a Board member of the World...

Yesterday

Training in diamond valuation is key for artisanal miners

Ian Rowe, the Executive Director of the Diamond Development Initiative (DDI) was appointed in September 2019, having joined DDI as Deputy Executive Director a year earlier. Ian managed field operations in Sierra Leone within this role and led...

02 december 2019

Kangalassi 2.0: Raising the living standards, creating new jobs

At the V Eastern Economic Forum (EEF) held in early September in Vladivostok, the Yakut company SAYBM signed a tripartite agreement with two agencies - the Far Eastern agency and the regional one - for attracting investments and providing export...

25 november 2019

We live in a new dimension of environmental responsibility carried by business

In mid-October, Moscow hosted the VIII Ecological Forum attended by representatives from the State, large industrial companies, scientific and public organizations. The forum delegates discussed the issues related to finding a balance between the socio-economic...

18 november 2019

De Beers’ GemFair delivering ‘positive impacts’ to ASM sector in Sierra Leone – David Johnson

GemFair, a pilot project developed by De Beers to create a secure and transparent route to market ethically sourced artisanal and small-scale mined (ASM) diamonds, is already delivering “important positive impacts” in Sierra Leone. Group head...

11 november 2019

Angola to offload share capital in 195 firms including Endiama

16 august 2019

The Angolan government is planning to offload share capital it wholly or partially holds in 195 different companies under the privatisation programme.
The disposal of its stakes in these entities will take place between 2019 and 2022 through public tenders and initial public offering, according to Jornal de Angola.
Of the targeted companies, 175 firms will be sold via public tende.
State-owned diamond company, Endiama will be one of the firms to be privatized.
Reports suggested last month that a mineral resources agency is being set up to act as regulator and concessionaire. 
Endiama, will no longer take on these roles and part of the diamond company will be floated on the stock exchange. 
The realignment of the mining sector in Angola follows that of the oil sector, which saw Sonangol sell its non-strategic assets and will have a minority share of its capital floated on the stock exchange in 2020. 
Endiama is expecting to earn about $1.5 billion in revenue this year compared with $1.25 billion realised from 8.47 million carats sold in 2018. 
Endiama has a 41% interest in Catoca, which produces and sells about 6.8 million carats of Angolan Catoca’s reserves are estimated at 120 million carats.  
It also has interests two other primary kimberlite projects – Camutue and Luo.  
Endiama has stakes in nine secondary alluvial projects, which included Chitolotolo, Chimbongo, Cambange, Cuango and Lulo. 
Endiama, together with Russia’s Alrosa, are prospecting for diamonds at the Luaxe kimberlite project.  
The deposit was discovered in 2013 and it has reserves of about 350 million carats with a lifespan of 30 years.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished