ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage
Luanda

Max:

Min:

Home » News » Economy

Wed, 11 Dec 2019 17:18 - Updated Wed, 11 Dec 2019 17:17

Catoca expects to reduce tax contribution this year

Luanda - Catoca Mining Society expects to close the year down, contributing by the end of the current financial year, with about USD 90 million to the state coffer, below USD 217 million in 2018.

Send by email

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

Correct

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

Lunda Sul: Mining of Catoca

Photo: HÉLDER DIAS

The mining company forecasts a turnover at the end of this year, estimated at US D700 million, a value lower than the collected in 2018, whose amount is not specified in the statement of diamond company to which Angop had access on Wednesday.

According to the document, from the II Extended Board of Directors of this company, the reduction in invoicing expected this year was influenced by the fall in the price of diamond in the international market, around 26%, a percentage that remains since October last year.

“This month's meeting in Saurimo is an opportunity to analyze the company's internal life, as well as its position in the international market, with a view to preparing it for the challenges of the mining sector worldwide”, read the note.

The document adds that as a result of “diligent management, the numbers achieved exceed the initial forecasts. This is because the fall in the price of diamond was offset by the increase in production. ”

Tags Diamonds  

Read also
  • 22/11/2019 16:37:43

    Investments may boost diamond production

    Luanda - Angola's diamond sub-sector will invest USD 200 million in 2020 to boost production from 11.3 million carats to 13.8 million carats a year .

  • 18/11/2019 18:33:19

    Diamonds generate over 3,000 jobs

    Luanda - At least 3,097 jobs were created from February to October this year, with the reorganization of the semi-industrial diamond exploration activity in the country.

  • 07/11/2019 08:45:30

    Angola attends International Diamond Conference

    Luanda - Angola attended last Tuesday in Gaborone, the capital city of Botswana, in the International Diamond Conference.