19 June 2008
Luanda — Angola's Catoca Mining Society (SMC), a company exploring the world's fourth biggest diamond Kimberlite, expects to overcome in 2008 the USD 425 million profit of 2006, said this Wednesday in Luanda the firm's head of the Information and Technology Office, Pedro Daniel Capumba.
In an interview to ANGOP, in the fringes of the opening of the second edition of the International Fairs of Minerals in Angola (FIMA), the official representing SMC at the event said that from the amount gained in the referred period, Catoca made a profit of about USD 108, 904, 000 million.
He stated that this amount represents to the company an increase of 31 percent compared to 2005, in which the value was USD 83,600.00.
Located in the eastern Lunda Sul Province, Catoca Mining Society was formally set up on 16 September 1993, with the objective of prospecting, exploring, treating and sell diamonds from Kimberlite deposits.
Besides being connected to mining production, Catoca has also financed social programmes, investing on projects like construction of schools and hospitals.
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