Catoca diamond mine
Encyclopedia
The Catoca diamond mine is the fourth largest diamond
mine
in the world, and is located in Angola
. The mine is 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%). The mine is located on a kimberlite
pipe
.
The mine had production of 1.8 million carats (360 kg) in 2000 and 2.6 million carats (520 kg) in 2001. Catoca management has been actively expanding capacity at the mine, such that the owners plan to extract as much as 5 million carats (1,000 kg) in 2005. 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 $75 to $100 USD per carat (375 to 500 $/g). Estimated reserves are 60 million carats (12,000 kg).
The diamonds from Catoca Mining Society topped the sales of 2009, with a net profit of 70 million US Dollar, resulting from a gross production of 122.6 million US Dollar, Angop. The information is contained in an annual report from the company released in September 2011. According to the source, the sales reached 7.050.521 carat, at the average rate of 62.23 US Dollar, 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 carat that permitted to establish the operational costs.
Diamond
In mineralogy, diamond is an allotrope of carbon, where the carbon atoms are arranged in a variation of the face-centered cubic crystal structure called a diamond lattice. Diamond is less stable than graphite, but the conversion rate from diamond to graphite is negligible at ambient conditions...
mine
Mining
Mining is the extraction of valuable minerals or other geological materials from the earth, from an ore body, vein or seam. The term also includes the removal of soil. Materials recovered by mining include base metals, precious metals, iron, uranium, coal, diamonds, limestone, oil shale, rock...
in the world, and is located in Angola
Angola
Angola, officially the Republic of Angola , is a country in south-central Africa bordered by Namibia on the south, the Democratic Republic of the Congo on the north, and Zambia on the east; its west coast is on the Atlantic Ocean with Luanda as its capital city...
. The mine is owned by a consortium of international mining interests, including Endiama
Endiama
Endiama is the national diamond company of Angola and it is the exclusive concessionary of mining rights in the domain of diamonds. Angola's state-run diamond company Endiama produced 8.55 million carats of diamonds in 2010. Antonio Carlos Sumbula is the president of the corporation...
(the state mining company of Angola) (32.8% ownership), Alrosa
Alrosa
ZAO ALROSA , is Russia's largest diamond company. Alrosa is engaged in the exploration, mining, manufacture and sale of diamonds. The company's operations are located primarily in the Sakha Republic/Yakutsk region. Alrosa accounts for approximately 25% of the world's rough diamond supply and 97%...
of Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
(32.8%), Odebrecht
Odebrecht
Odebrecht S.A. is a Brazilian conglomerate in the fields of engineering, construction, chemicals and petrochemicals. The company was founded in 1944 in Salvador da Bahia by Norberto Odebrecht, and is now present in South America, Central America, North America, the Caribbean, Africa, Europe and the...
of Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
(16.4%), and the Diamond Finance CY BV Group (16.8%). The mine is located on a kimberlite
Kimberlite
Kimberlite is a type of potassic volcanic rock best known for sometimes containing diamonds. It is named after the town of Kimberley in South Africa, where the discovery of an diamond in 1871 spawned a diamond rush, eventually creating the Big Hole....
pipe
Volcanic pipe
Volcanic pipes are subterranean geological structures formed by the violent, supersonic eruption of deep-origin volcanoes. They are considered to be a type of diatreme. Volcanic pipes are composed of a deep, narrow cone of solidified magma , and are usually largely composed of one of two...
.
The mine had production of 1.8 million carats (360 kg) in 2000 and 2.6 million carats (520 kg) in 2001. Catoca management has been actively expanding capacity at the mine, such that the owners plan to extract as much as 5 million carats (1,000 kg) in 2005. 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 $75 to $100 USD per carat (375 to 500 $/g). Estimated reserves are 60 million carats (12,000 kg).
The diamonds from Catoca Mining Society topped the sales of 2009, with a net profit of 70 million US Dollar, resulting from a gross production of 122.6 million US Dollar, Angop. The information is contained in an annual report from the company released in September 2011. According to the source, the sales reached 7.050.521 carat, at the average rate of 62.23 US Dollar, 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 carat that permitted to establish the operational costs.