Located in the Lunda Sul province of Angola, the Catoca mines have been a vital contributor to the country’s economy since their discovery in the 1960s. Under the leadership of Dr. Benedicto Manuel, the mines have experienced significant growth and development, transforming the lives of thousands of Angolans.
The Catoca mines jointly owned by the Angolan government and Alrosa of Russia are currently the world’s fourth biggest diamond producer even though it is yet to explore 60% of its diamond-rich territories. It was first discovered in 1965, but its development was hindered by Angola’s civil war, which lasted from 1975 to 2002. After the war, the Angolan government partnered with international companies to revive the mining industry. In 2013, Dr. Benedicto became the Director-General of Sociedade Mineira de Catoca (Catoca mines), bringing with him a wealth of experience in the mining sector.
In the discharge of his duties, Dr. Benedicto understands that his role is not just to oversee the mining of diamonds but also to be a catalyst for social and economic development through the impact of the over 20,000 indirect jobs it created in the society and its considerable investments in Corporate Social Responsibility (CSR).
Under Dr. Benedicto’s leadership, the Catoca mines have become one of the largest diamond mines in the world, producing over 6 million carats of diamonds annually. The mines have had a profound impact on Angola’s economy, contributing significantly to the country’s GDP. In 2022, Angola exported 8.75 million carats of diamonds and earned $1.95 billion from it thus making diamonds the second biggest source of foreign exchange for Angola after crude oil and gas.
In terms of job creation, the Catoca mines have created thousands of jobs for Angolans, both directly and indirectly. The mines employ over 3,000 people, making it one of the largest employers in the country. The Catoca mines also generate significant revenues for the Angolan government through royalties, taxes and dividends, which are being invested in various sectors, including education, healthcare, and infrastructure for the benefit of the Angolan people.
The Catoca mines has also been a catalyst for development in the region in which it is situated through infrastructure development which includes the construction of roads, bridges, and housing for employees.
The Catoca mines have not only had a positive impact on Angola’s economy and infrastructural development but also on the lives of the local communities. Under Dr. Benedict’s leadership, the company has implemented various social programs aimed at improving the lives of the local population. These programs include training programs for local youth by providing them with skills and knowledge of the mining sector.
In the area of healthcare, Catoca Mines has invested heavily in healthcare facilities and services for the local community, thereby improving access to quality healthcare in the region. They have also implemented other community development programs, such as the construction of schools, hospitals, and other infrastructure.
Despite the significant progress made by the Catoca mines, there are still challenges to be addressed. The mines face challenges related to environmental sustainability, labor practices, and community engagement. However, under Dr. Benedict’s leadership, the mines are committed to addressing these challenges and ensuring that the benefits of the mines are shared equitably among all stakeholders.
For Dr Benedicto, success is not just measured in financial terms but more importantly in how much positive impact they have made in the lives of their stakeholders from the host community to their staff and the people of Angola at large. In conclusion, the Catoca mines have been a game-changer for Angola’s economy, providing jobs, revenue, and infrastructure development. Under Dr. Benedicto’s leadership, the mines have demonstrated a commitment to social responsibility and sustainability. As the mines continue to grow and develop, they are poised to play an even more significant role in Angola’s economic future.
Oshobi, a development economist, management consultant, and author writes from Lagos, Nigeria.