Catoca diamond mine
Satellite image of the mine from June 21st, 2001. The light red point in the north-east of the mine is a bush fire.
|Products||Diamonds (2.6 million carats in 2001)|
Diamond Finance CY BV Group (16.8%)
The Catoca diamond mine is the fourth largest diamond mine in the world, and is located in Angola. The mine is owned by a consortium of international mining interests, including Endiama (the state mining company of Angola) (32.8% ownership), Alrosa of Russia (32.8%), Odebrecht of Brazil (16.4%), and the Diamond Finance CY BV Group (16.8%). The mine is located on a kimberlite pipe.
The mine had production of 1.8 million carats (360 kg) in 2000 and 2.6 million carats (520 kg) in 2001. Catoca management has been actively expanding capacity at the mine, such that the owners plan to extract as much as 5 million carats (1,000 kg) in 2005. The mine's production is 35% gem quality, compared to a global average of 20%; the diamonds produced at Catoca have an average value of $75 to $100 USD per carat (375 to 500 $/g). Estimated reserves are 60 million carats (12,000 kg).
The diamonds from Catoca Mining Society topped the sales of 2009, with a net profit of 70 million US Dollar, resulting from a gross production of 122.6 million US Dollar, Angop. The information is contained in an annual report from the company released in September 2011. According to the source, the sales reached 7.050.521 carat, at the average rate of 62.23 US Dollar, a volume that represented about 78 percent of the amount sold by the diamond companies around the country. The note states that as a result of the processing of the ore, the company obtained a total of 7.5 million carat that permitted to establish the operational costs.
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