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It's official: Taadeen joins the Catoca Mining Society

Taadeen, a subsidiary of the Omani Sovereign Wealth Fund, has officially joined the Catoca Mining Company. The formalization of its entry into Catoca's share capital took place this Monday, through the signing of a public deed.

: Facebook Ministério dos Recursos Minerais, Petróleo e Gás Angola
Facebook Ministério dos Recursos Minerais, Petróleo e Gás Angola  

The document was signed by representatives of the aforementioned companies, says a statement from the Ministry of Mineral Resources, Oil and Gas, to which VerAngola had access.

"The formalization was made this Monday, 26th, through the execution of a public deed of entry of Taadeen – a subsidiary of the Sovereign Fund of Oman – into the share capital of Catoca, through the acquisition of shares from Endiama EP, having been signed by the representatives of the companies in question", reads the note.

According to the guardianship, "the act was preceded by Alrosa's departure from Sociedade Mineira de Catoca, which passed its share to Endiama".

"At the same time, the exit of Catoca Mining Company from the capital of Sociedade Mineira do Luele was celebrated, with the shares being transferred to Taadeen, who consequently became a partner in this company, in compliance with Presidential Order No. 17/25. With these signatures, the negotiation process is concluded and the change in the corporate structures of Catoca and Luele has been completed", explains the ministry.

The act was witnessed by Jânio Corrêa Victor and José Alexandre Barroso, state secretaries of Mineral Resources and Oil and Gas, respectively.

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