Sodiam Reports $27m Profit in 2019

Rough Market
15/06/2020 09:07

In a press release, Sodiam, the state-owned body that markets of Angolan rough diamonds, announced its 2019 figures, with a net profit of US$27million, less than in 2018, as new legislation introduced in 2019 allows miners to market a portion of their production directly instead of through Sodiam. In September of last year, Sodiam introduced its online platform for competitive sales, and according to the release has reduced its operating cost by 17% in 2019. Tax contributions amounted to US$26,6 million, an increase of 21%.