Sociedade de Desenvolvimento Mineiro de Angola
| Company type | State-owned enterprise |
|---|---|
| Industry | Mining |
| Founded | August 25, 1995 |
| Headquarters | Angola |
Area served | Cuango River basin, Lunda Norte Province, Angola |
| Products | Diamonds |
| Owner | Government of Angola (via Endiama) |
Number of employees | 1,293 (2005) |
| Parent | Endiama and OMSI (Odebrecht Mining Services Inc) |
Sociedade de Desenvolvimento Mineiro (SDM) is a state-owned mining enterprise in Angola, possessing mining rights over a 2,950 km² area within the Cuango River basin located in Lunda Norte Province. This company represents a partnership between Angola's state entity Endiama (National Diamond Company of Angola) and the Brazilian private corporation OMSI (Odebrecht Mining Services Inc).
History
Founded by a presidential decree dated 25 August 1995, SDM assumed control of the Cuango mining operations, which had been inactive since 1992 but still ranked as Angola's second-largest diamond producer. The initial concession was acquired by Odebrecht in 1991 through an agreement with De Beers, though the activities were interrupted when UNITA took over the area approximately 15 months later.
In 2001, SDM's diamond output reached 419,000 carats. By 2003, the company reported revenues of $177 million; however, the Cuango/Luzamba concession was set to expire in 2004. That year, SDM remained Angola's second-leading diamond producer with an extraction volume of 622,000 carats, despite a revenue decrease to $103 million.
Internal disputes within SDM were partly fueled by Odebrecht’s contentious image in Brazil alongside its favored position within Angola.
Activities
SDM is engaged in the exploration, development, extraction, and commercial trading of diamonds sourced from both primary and secondary deposits near the Cuango River in northeastern Angola—an area renowned for its superior quality gemstones. Economic viability has been demonstrated through bulk sampling of river terrace gravels surrounding the Ganzo, Tázua, and Ginge river diversions.
The workforce numbered 1,293 employees as of 2005.
Further reading
- Maques, Rafael. Diamantes de sangue: Corrupçâo e Tortura en Angola. Tinta da China, Lisbon, September 2011.