The announcement was made in Luanda by the company’s chairman of the board of directors, Mateus Gonçalves, who highlighted the “Educar” program—which focuses on improving school infrastructure and retaining teachers and students in the municipalities of Cambulo and Canzar—as one of the key projects, according to the Angola Press website.
Speaking at a meeting with journalists, the official revealed that approximately $1.4 million of the projected $2.8 million is available for the first half of this year.
According to the official, the project involves the renovation of schools, literacy programs, the provision of subsidies to teachers, medical care for employees and traditional leaders, as well as the awarding of internal and external scholarships for workers’ children, benefiting approximately 10,000 people.
He also reported that construction is underway on a clinic, which will be handed over to a third party for management later this year, as well as an agricultural project supported by the “Boa Brigada” farm within the mine’s concession area, with the aim of promoting and supporting local production.
He reiterated that the company will continue to support various projects aimed at improving the living conditions of local communities, as part of its corporate social responsibility efforts.
Production
According to Mateus Gonçalves, the Chitotolo Mining Company expects to produce approximately 300,000 carats of diamonds this year, compared to 331,111 carats last year (2025).
As for revenue, the chairman of the diamond mining company’s Management Board said the company also expects to exceed its 2025 revenue, which was approximately $250 million, resulting from the sale of 343,000 carats of diamonds.
Of the amount collected, he said, 5% was set aside for tax payments.
He explained that, given the decline in the price of this strategic mineral on the world market due to the emergence of lab-grown diamonds, some stones produced in 2025 are currently in stock.
It reported that, in 2025, the average price of a diamond per carat was $503.16.
He went on to say that this year the price has fallen significantly, with diamonds produced in Chitotolo currently selling for $446 per carat.
It revealed that the mine has proven reserves of 7.46 million carats, estimated to last for 20 years, with the majority (81.4%) already in production.
Located in the municipality of Cambulo, the mine covers an area of 4,642 square kilometers and is jointly owned by Endiama, U.E.E., ITM Mining Limited, and LUMANHE Mineira, Lda., a partnership established under Decree No. 36/96 of August 30.
