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Sun, 02 Nov 2014 13:33 - Updated Sun, 02 Nov 2014 13:35
Endiama reduces mining operation costs

Luanda - The Angola State-owned Diamond Company (Endiama EP) has embarked on a drive to reduce operational costs in all mines and firms of the group, seeking to increase revenues.

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Endiama CEO - Carlos Sumbula
Photo: Pedro Parente
This was announced on Friday in Luanda by the company’s’ CEO
, António Carlos Sumbula.
Carlos Sumbula was addressing the “Diamond Night” that went under the International Mining Fair (FIMA) taking place in Luanda.
The official stated that reducing costs will bring advantages that include more revenues for the State, dividends for the stakeholders and benefits for the personnel of the sector.
He said the measures follow the Mining Code under which the Government recommends the reduction in operation costs.
According to the official, in view of the fact that diamond is a non-renewable resource, there is need for diversification of the company’s activity out of its core business.
Carlos Sambula said as well that Endiama has completed relevant projects like those to revamp mines lying idle as a result of the world financial crisis of 2008.
He also spoke of the re-organisation of the diamond artisan market that has led to satisfying results both in terms of revenues for the State and combat of poverty.
FIMA is going with the theme “Planageo, prospecting, mining diversification and development”.
The event closing on Sunday, is being attended by nine provinces of the country, and 70 exhibitors among locals and foreigners.
Also attending are Portugal, Namibia, Holland, South Africa, France, Russia, Argentina and Canada.

http://www.portalangop.co.ao/angola...ion-costs,65932ebd-932c-462a-a362-0c8f4f1e9ee