ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage



Home » News » Economy

Sat, 07 Dec 2019 12:18 - Updated Sat, 07 Dec 2019 12:18

Diamond cooperatives risk losing license if not generate tax revenues

Saurimo - Diamond cooperatives, which within two years do not turn out to be competitive and do not contribute with tax revenues, will lose their exploration license, the National Director of Mineral Resources, Andre Buta, said on Friday.

Send by email

To share this news by email, fill out the information below and click Send


To report errors in the texts of articles published, fill out the information below and click Send

Small diamond exploration industry (file)

Photo: Henri Celso

In addition to the demands, the law also requires that cooperatives should increase the number of jobs and contribute to the fight against poverty and improvement of the living conditions of the population.

The official, who made the statements at the opening of the second council of Catoca mining society Extended Board of Directors, stressed that the country has about 270 cooperatives, of which 50 percent are in operation.

He also explained that the country possesses seven large-scale diamond projects in operation, as well as 35 companies involved in the exploitation of ornamental rocks.

Read also
  • 06/12/2019 11:33:49

    Monetary poverty rate rises to 41 percent in Angola

    Luanda - At least 41% of Angolans live below the monetary poverty line, representing an increase of around 4%, compared to the year 2008, which was of 37%.

  • 05/12/2019 18:22:19

    Expansion of intra-regional trade ensures progress

    Luanda - The Secretary of State for Budget and Public Investment, Aia-Eza da Silva, stressed today in Luanda the need to strengthen regional integration and the expansion of intra-regional trade so that African countries can ensure economic progress.

  • 05/12/2019 13:34:45

    Government wants to build agribusiness centre

    Luanda - The Angolan Government has requested technical support from the United Nations Food and Agriculture Organization (FAO) for the construction of the first Information Centre on Agribusiness, as well as the smart technologies diagnostic to mitigate the consequences of the country's drought.