Catoca Sales $527 Million in 2010
April 21, 11 by IDEX Online Staff Reporter
(IDEX Online News) - Sales by the Catoca mine in Angola passed $527 million in 2010, according to a report by Alrosa, one of the four owners of the mine. Net income totaled more than $ 111 million, and the shareholders agreed on distributing dividends.
The report followed a recently held Annual General Meeting, during which the budget for fiscal 2011 was approved. The budget includes reducing costs, increasing efficiency and operating profit.
Catoca was established in 1993 by Alrosa, Angola's state owned diamond firm ENDIAMA, Lev Leviev's LL International BV and Brazilian conglomerate Odebresht Mining Services Inc.
