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Angola appoints Carlos Sumbula CEO of Endiama

Reuters | Wed, 04 Nov 2009 17:10
[miningmx.com] -- Angola has appointed Carlos Sumbula as chairman and chief executive of state-owned diamond company Endiama E.P, according to a presidential statement released on Wednesday.

According to government plans for the company Sumbula, a former deputy mines minister, is expected to continue with extensive cost-cutting measures at Endiama and its subsidiaries following a sharp drop in diamond prices triggered by last year's global financial crisis.

He is also expected to try hard to attract new investors into Angola, which recently announced it had 100 mines open for exploration by private investors.

Endiama controls all diamond concessions in Angola -- the world's fifth biggest diamond producer.




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