Luele Mining Society now has a new shareholder, replacing Alrosa, the Russian mining company that held a stake resulting from its participation in Catoca.

The new shareholder is Taadeen, a company linked to the Oman Sovereign Fund, which on Thursday 21st officially entered the capital of the mining company, inaugurated in November 2023 by the President of the Republic, João Lourenço.

The chairman of Luele’s board of directors, Rómulo Mucase, said at the time that with the formal signing of Taadeen’s integration, it is expected that added value will be generated that can leverage investment programmes and social responsibility.

Luele takes ownership of Hidrochicapa

At another point, Luele Mining Society took ownership of Hidrochicapa, a dam with a capacity of 16 megawatts and a workforce of around 87 employees, 80 per cent of whom are nationals.

The head of the Luele mine said that the energy produced by the Chicapa dam is from a clean source, guaranteed to maintain jobs and promised to ‘do everything’ to increase its production capacity.

For this year, Luele forecasts the recovery of more than six million carats and a considerable contribution to the national economy.