Angola's Catoca to Distribute 2012 Profits as Dividend
August 05, 13
(IDEX Online News) – Angolan diamonf mining company Sociedade Mineira do Catoca plans to distribute all of its 2012 profit of $131.7 million to its shareholders, according to the company’s annual report and accounts, cited by Angolan weekly newspaper Expansão. 
According to the report, state-owned diamond company Endiama and Russian state company Almazzi Rossi – Sakha (Alrosa) will each receive $43.2 million, while LLI Holding, a subsidiary of the firm belonging to Israeli tycoon Lev Leviev will receive $23.7 million and Brazilian group Odebrecht will receive US$21.6 million.
Catoca is the biggest miner in Angola, and is owned by Endiama and Russian state-owned miner Alrosa with 32.8 percent each, while LLI Holding owns 18 percent and Brazil’s Odebrecht owns the remaining 16.4 percent.
In 2012, the company was hit by a fall in diamond prices and its profit decreased by 7 percent to $131.7 million.
Sales fell by around $32 million last year from 2011 to $579 million, due to a downturn in diamond prices.
Angola sold 7.8 million carats of rough diamond in 2012 with a value of $923 million, according to Angolan state diamond marketing firm Sodiam.