Catoca to Give Out 2012 Profits as Dividend

Angola's Sociedade Mineira do Catoca is 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.
 
State-owned diamond company Endiama and Russian state company Almazzi Rossi – Sakha (Alrosa) will receive $43.2 million, while LLI Holding, a unit 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, the largest miner in Angola, 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.
 
Last year, the company was struck by a drop in diamond prices and its profit decreased by 7 percent to $131.7 million.
 
Sales fell by about $32 million in 2012 from 2011 to $579 million, due to a drop 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.