Catoca diamond mine | |
Width: | 300px |
Pushpin Map: | Angola |
Pushpin Label: | Catoca diamond mine |
Pushpin Map Caption: | Location in Angola |
Coordinates: | -9.3989°N 20.3008°W |
Country: | Angola |
Owner: | Endiama (59%) Alrosa (41%) |
Products: | Diamonds (2.6 million carats in 2001) |
The Catoca diamond mine is the fourth largest diamond mine in the world, and is located in Angola. The mine is located on a kimberlite pipe. The mine is owned by a joint venture between the Angolan state-owned company Endiama, and the Russian company Alrosa.
At one time, the mine was 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%).
In 2011, Lev Avnerovich Leviev sold LL International Holding, which held an 18% stake in Catoca to the Chinese company Sonangol International.[1] [2]
In 2017, Odebrecht sold off its 16.4% stake in Catoca.[3]
In 2018, Alrosa expanded its stake to 41% ownership, with the remainder held by Endiama (41%) and the Chinese company LL International Holding (18%).[4]
In June 2022, Angola seized a stake in the nation’s biggest diamond miner, giving it majority control of Catoca. [5] The 18% stake previously held by LL International holding was nationalized.[6]
The mine had production of in 2000 and in 2001. 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 US$75–$100 per carat ($375–500/g). Estimated reserves are 60 million carats (12 tonnes).
The diamonds from Catoca Mining Society topped the sales of 2009, with a net profit of US$70 million, resulting from a gross production of US$122.6 million, Angop. The information is contained in an annual report from the company released in September 2011. According to the source, the sales reached, at the average rate of US$62.23, 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 carats that permitted it to establish the operational cost.
In 2012 the mine extracted out of 10 million tonnes of ore production.[7]
In July 2021, waste material from the mine leaked into the nearby Tshikapa river.[8] The Democratic Republic of the Congo stated the contaminated water killed 12 people, and sickened more than 4,000.[9] After the DRC announced it would pursue monetary damages, the state-controlled miner MIBA signed a diamond mining partnership agreement with Alrosa, but did not mention the recent leak.[10]
The spill turned the river red and killed large numbers of fish, but Catoca claimed the spill did not contain heavy metals.[11] Independent testing found the presence of nickel and uranium contamination.[12] Satellite imaging collected by the European Space Agency's Sentinel-2 was able to infer the extent of the impact on water quality by observing the change in the river's color.[13] The government of the DRC initially said it would pursue unspecified monetary damages for the incident, but as of October 2022, no talks had taken place.[14]
The Catoca diamond deposit occurs in a kimberlite pipe.[15]