The Chairman of the Board of Directors of Endiama, José Ganga Júnior, who participated in the signing of the contracts, explained that Alrosa's exit from some business activities in Angola was due to difficulties in operating the ventures partially owned by the Russian multinational, due to the sanctions to which Russia is subject.
“What we did was, for more than 15 months, work towards finding a solution that would make the main activity of these two projects viable, Catoca and Luele, which, in themselves, represent the backbone of diamond activity in Angola”, said the official, stressing that the two mines represent more than 80 percent of diamond production in the country.
The president of Endiama highlighted the significant importance of these two mines and the work done to ensure that this change did not cause “constraints to the operational activity of the companies”.
According to José Ganga Júnior, the State's participation in Sociedade Mineira de Catoca remains, with Endiama holding 59 percent of the share capital, with the remaining 41 percent now held by Taaden.
In relation to the Sociedade Mineira do Luele, Endiama, the Armed Forces Social Fund, the Catoca Social Fund and the IGEO Social Fund account for 51 percent and Taaden for 49 percent.
Regarding the Hidrochicapa project (Chicapa Hydroelectric Power Plant Concessionaire Society), where Alrosa had the concession to operate the AHCI (Chicapa I Hydroelectric Power Plant), with an installed capacity of 16 megawatts, in the province of Lunda Sul, its assets are transferred in full to the Luele Mining Company.
In turn, the chairman of the board of directors of Taaden, Abdul Aziz al Maqbali, considered the moment historic for both countries and a “very interesting” opportunity for the company.
“It is a very happy moment for us and what we want is to continue to develop good work with Endiama to contribute to the country’s development,” said Abdul Aziz al Maqbali, highlighting that negotiations for these projects “happened solely and exclusively with Endiama.”
Abdul Aziz al Maqbali refused to disclose the investment value for the start of operations, ensuring that the presence in Angola is not “to take away”, but “to invest”.
The Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, said that the process of leaving Alrosa had two phases, the first at government level, in order to find a solution “for what was affecting the diamond sector in Angola”, and the second, without the involvement of Alrosa, with the new partner.
“Today we conclude this second phase with the signing of the agreements between Taaden and Endiama”, highlighted the governor, adding that the context of the global diamond industry has changed, “not only due to sanctions, but also to a greater presence of artificial or synthetic diamonds”.
The minister rejected any “diplomatic implications”, stressing that Alrosa’s departure was “consensual”.
“There is no diplomatic friction in relation to our previous partner, on the contrary, I can take this moment to congratulate the teams from the three countries that were involved in the two phases,” he said.
