ENDIAMA

Last updated
ENDIAMA E.P.
Company typeE.P. Empresa Pública
Industry Mining
Predecessor Diamang
FoundedJanuary 15, 1981;43 years ago (1981-01-15)
HeadquartersRua Major Kanhangulo nº 100 Luanda, Angola
Key people
Dr José Manuel Augusto Ganga Júnior, President
Products Diamonds
Revenue1.3 billion euro in 2023
Website http://www.endiama.co.ao/contactos.php

ENDIAMA E.P. (Empresa Nacional de Diamantes E.P.) is the state-run national diamond company of Angola. It is the exclusive concessionary of mining rights in the domain of rough diamonds in Angola. [1]

Contents

History

One of the first acts of post-colonial government of the newly-independent Angola, led by the People's Movement for the Liberation of Angola (MPLA) based in Luanda, was to nationalize the assets of the largely foreign investor-owned Companhia de Diamantes de Angola (Diamang), under the philosophy that the diamonds of the ground were the property of all Angolans. ENDIAMA was created as a state-run company to manage diamond mining in Angola in 1981. Diamang was then formally disbanded in 1988. [2] [3]

The biggest obstacle to operations by the newly-minted ENDIAMA was the fact that Angola was embroiled in the Angolan Civil War, and rebel groups such as the National Union for the Total Independence of Angola (UNITA) held much of Angola's valuable mining areas, such as the Kwango River basin, from which they mined diamonds to barter for weapons and military equipment. During this chaotic time, illegal diamond mining is estimated to have been almost four times the quantity produced legally, and UNITA controlled or operated in up to 70% of the country's land area at points before the eventual end of the war in 2002. [3] [1]

In October 1994, the National Assembly passed Law no. 16/94, which aimed to open Angola's mining industry up to foreign investment. ENDIAMA was vested all rights regarding the prospecting, mining, sorting and marketing of rough diamonds in Angola, and was enabled to enter into profit-sharing partnerships with third-parties such as Alrosa of Russia, Odebrecht of Brazil, companies owned by Soviet-born Israeli diamond magnate Lev Leviev such as UK-registered Daumonty Financing and Chinese-registered Lev Leviev International, the international diamond conglomerate De Beers, and diamond traders from Belgium, Israel and the United States. [3]

In 1999, ENDIAMA created a new subsidiary, the Sociedade de Comercialização de Diamantes (SODIAM), to which it gave its marketing rights. SODIAM, in turn, created a rough diamond selling subsidiary of itself called Ascorp, of which it held 51% ownership, in partnership with foreign investors. Ascorp's contract ended in July 2004, reverting its rights to SODIAM. [3] [4]

ENDIAMA produced 8.55 million carats of diamonds in 2010 [5] and 8.75 million in 2022, following disruptions from the global COVID-19 pandemic and sanctions against its Russian business partner, Alrosa, resulting from the Russian invasion of Ukraine. However, the company expects to produce 14.5 million carats in 2024 [6] with an eventual goal of 20 million by 2027. [7] [8]

In 2023, Diamantino Azevedo, Minister of Mineral Resources, Oil and Gas, announced that as part of the reform plan of President João Lourenço, ENDIAMA and oil-giant Sonangol would potentially both seek dual listings on local and foreign stock markets, starting with "maybe with five or ten percent" with an eventual goal of 30% private ownership. [6] ENDIAMA had a revenue equaling 1.3 billion euro that year. [8]

Operations

ENDIAMA's primary property is the Sociedade Mineira de Catoca, which is a joint venture between ENDIAMA, Alrosa, and Odebrecht. Catoca is the seventh largest diamond mine in the world, and is estimated to produce over 7 million carats of diamonds in 2014 worth just under $1 billion. [9]

Subsidiaries

Former Subsidiaries

Mining operations

Endiama has stake in the following mining operations, each of which is a company in its own right:

See also

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References

  1. 1 2 Krawitz, Avi (2013-06-28). "Angola, 100 years later". Rubel & Ménasché. Archived from the original on 2024-08-14. Retrieved 2024-07-30.
  2. 1 2 3 4 5 6 James, W. Martin (2011). Historical Dictionary of Angola (2nd ed.). Scarecrow Press. p. 90. ISBN   9780810874589.
  3. 1 2 3 4 "A peace dividend 20 years in the making: The Angola Case Study – World Diamond Council". www.worlddiamondcouncil.org. Archived from the original on 2024-06-28. Retrieved 2024-07-30.
  4. 1 2 3 4 "História". Endiama (in European Portuguese). Archived from the original on 2024-08-01. Retrieved 2024-08-01.
  5. ↑ DIB Online: Endiama produced 8,55 million carats in 2010 Archived 2011-07-21 at the Wayback Machine March 22, 2011
  6. 1 2 "Angola seeks dual listing for diamond miner Endiama, to sell 5-10% stake first". Reuters. 2023-02-08. Archived from the original on 2023-03-23. Retrieved 2024-07-30.
  7. ↑ "Rapaport Magazine - A New Dawn for Angola". www.diamonds.net. Archived from the original on 2024-07-30. Retrieved 2024-07-30.
  8. 1 2 "Angolana Endiama arrecadou 1,3 mil M€ com a produção de diamantes em 2023". Forbes Portugal (in European Portuguese). 2024-01-18. Archived from the original on 2024-08-01. Retrieved 2024-08-01.
  9. ↑ Mining.com: The state of global rough diamond supply 2014 Archived 2014-03-25 at the Wayback Machine March 13, 2014
  10. ↑ Oshiafi, Josephine (August 25, 2017). "Hong Kong's Role in Sino-African Trade Relations: A Tripartite Coalition". University of Chicago International Program Papers– via Chicago Unbound.
  11. 1 2 3 Horas, Angola 24. "Endiama vai privatizar Hotel Diamante e Enditrade - Angola24Horas - Portal de Noticias Online". angola24horas.com (in Brazilian Portuguese). Archived from the original on 2024-08-01. Retrieved 2024-08-01.{{cite web}}: CS1 maint: numeric names: authors list (link)
  12. ↑ "ANGOLA : Endiama struggles to find a suitor for its private security subsidiary Alfa-5 - 04/03/2021". Africa Intelligence. 2024-07-30. Archived from the original on 2024-07-30. Retrieved 2024-07-30.
  13. ↑ "Home". HOTEL DIAMANTE (in Brazilian Portuguese). Archived from the original on 2024-08-14. Retrieved 2024-08-11.
  14. ↑ "Construtora Norberto Odebrecht (CNO) - AGE (African Growing Enterprises) File". Institute of Developing Economies. Archived from the original on 2024-08-01. Retrieved 2024-08-01.
  15. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 "Mining Projects". Endiama. Archived from the original on 2024-08-14. Retrieved 2024-07-30.
  16. ↑ "Participação societária – Sociedade Mineira do Luele" (in Portuguese). Archived from the original on 2024-08-14. Retrieved 2024-07-30.
  17. ↑ James, W. Martin (2011). Historical Dictionary of Angola (2nd ed.). Scarecrow Press. p. 49. ISBN   9780810874589.
  18. 1 2 grxnet.com. "Jornal de Angola - Notícias - Camatchia impedida de explorar diamantes". Jornal de Angola (in Portuguese). Archived from the original on 2024-08-01. Retrieved 2024-08-01.
  19. ↑ Morais, Rafael Marques de (2014-11-03). "K&P Tortura Garimpeiros no Cuango" (in European Portuguese). Archived from the original on 2024-07-26. Retrieved 2024-07-30.
  20. ↑ "Participações". Endiama (in European Portuguese). Archived from the original on 2024-07-26. Retrieved 2024-07-26.
  21. ↑ "Lunda-Norte: Arranca na próxima quinta-feira a exploração de diamantes no ″Projecto Yetwene″". Novo Jornal (in Portuguese). 2023-04-25. Archived from the original on 2024-07-28. Retrieved 2024-07-30.
  22. 1 2 "New Diamond Mining Contracts Signed". Newsletter No. 85. Embassy of Angola UK: Press Office. October 2002. Archived from the original on 2008-02-26. Retrieved 2008-04-29.
  23. 1 2 "Angola: Antigos trabalhadores da Endiama ainda em conflito com a empresa de diamantes". Voice of America (in Portuguese). 2022-01-18. Archived from the original on 2024-08-14. Retrieved 2024-08-01.
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