The loans will go mostly to the import of machinery rather than working capital, according to a recent article from The Economic Times.
Report: Angola Continues to Cut Ties with Former First Family
State-owned mining company Endiama is selling the diamond licenses once belonging to Isabel Dos Santos to investors, according to Reuters.
Luanda, Angola--The Angolan government is selling diamond exploration rights that once belonged to the former president’s daughter to investors, Reuters reports.
According to a video clip viewed by the news agency, José Manuel Ganga Júnior, president of state-owned diamond company Endiama, told several mining companies in a meeting last month that Isabel dos Santos’ licenses had expired and now are open to new exploration partners.
While Endiama did not respond to a request for confirmation from National Jeweler by press time, it did confirm to Reuters that the video was authentic.
The licenses open to investors were for Camafuca-Camazambo, Mulepe, Sangamina, Chiri and Tchiegi, all located in the country’s northeastern diamond-producing provinces of Lunda Norte and Lunda Sul, Reuters said.
The Camafuca-Camazambo and Chiri licenses were the ones that had belonged to Dos Santos.
Russia’s Alrosa is currently the only major diamond company producing in Angola. It has a stake in the Catoca mine.
Dos Santos is the daughter of former Angolan President Jose Eduardo dos Santos and the richest woman in Africa with a current net worth of $2.7 billion, according to Forbes.
Her father named her as head of Sonangol, Angola’s state oil firm, in June 2016. Her husband, Sindika Dokolo, has a stake in Swiss jewelry brand De Grisogono.
Lourenço removed Dos Santos as head of Sonangol in November. Sodiam, a subsidiary of Endiama, also divested its stake in De Grisogono after a board meeting Dec. 1, saying it was doing so for “reasons of public interest and legality.”
The sale also will include a third Rolex, with all three watches tied to Barrett’s 1979 attempt to break the world record for land speed.
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