SODIAM
{{Short description|State-run Angolan company}}
{{Infobox company
| name = Sociedade de Comercializacao de Diamantes de Angola, SARL
| logo = SODIAM logo 2024.jpeg
| type = State-owned
| industry = Diamond trading
| founded = {{Start date and age|1999|11}}
| hq_location = Rua Rainha Ginga, Predio De Beers,
No. 87, 7th Fl.
| hq_location_city = Luanda
| hq_location_country = Angola
| key_people = {{Unbulleted list|Eugene Pereira Bravo da Rosa (Chairman of the Board of Directors)|Fernando Amaral (Executive Administrator)|Jose Neves Goncalves Silva (Executive Administrator)}}
| revenue = US$1,626,644,590
| revenue_year = 2021
| owner = ENDIAMA
}}
The Sociedade de Comercialização de Diamantes (Abbreviated SODIAM), in English the Diamond Trading Society, is the national diamond trading company of Angola. It is owned in part by ENDIAMA and exists to bring diamonds produced both through ENDIAMA's partnered mines and by artisanal miners to national and international markets.{{Cite web |date=2013-06-28 |title=Diamonds.net - Angola, 100 Years Later |url=http://www.diamonds.net/News/NewsItem.aspx?ArticleID=43603&ArticleTitle=Angola%2c+100+Years+Later |access-date=2024-08-02 |website=www.diamonds.net |archive-date=2024-08-02 |archive-url=https://web.archive.org/web/20240802111742/https://www.diamonds.net/News/NewsItem.aspx?ArticleID=43603&ArticleTitle=Angola,+100+Years+Later |url-status=live }}
History
SODIAM was founded in November 1999 as a subsidiary of the state-owned diamond mining company ENDIAMA for the purpose of regulating and certifying diamond sales and exports. During the Angolan Civil War, rebel groups such as the National Union for the Total Independence of Angola (UNITA) were in control of much of the countryside, including many of Angola's most valuable diamond mining areas. These rebel groups financed their war in large part by bartering diamonds mined from these territories in exchange for weapons. In response to attacks by UNITA on civilians and United Nations personnel, the United Nations Security Council placed sanctions on UNITA, which included an embargo on diamonds from the country except for those certified authentic by the recognized government in Luanda.{{Cite book |last=James |first=W. Martin |title=Historical Dictionary of Angola |publisher=Scarecrow Press |year=2011 |isbn=9780810874589 |edition=2nd |pages=90}}{{Cite web |title=Sanctions and Other Committees {{!}} Security Council |url=https://main.un.org/securitycouncil/en/content/repertoire/sanctions-and-other-committees |access-date=2024-08-02 |website=main.un.org |archive-date=2024-08-02 |archive-url=https://web.archive.org/web/20240802111740/https://main.un.org/securitycouncil/en/content/repertoire/sanctions-and-other-committees |url-status=live }}
To facilitate this, SODIAM created a subsidiary, the Angola Selling Corporation (ASCORP), which was 51% owned by SODIAM, with the other 49% held predominantly by Belgium-based Omega Diamonds and the international Lev Leviev Group, to serve as the single export channel for Angolan rough diamond production. All other diamond exporters had their licenses revoked. ASCORP's own license expired in 2004, with its role of marketing and exporting diamonds returning to SODIAM.{{Cite web |title=HSBC revelations shine light on secretive diamond world |url=https://www.irishtimes.com/business/financial-services/hsbc-revelations-shine-light-on-secretive-diamond-world-1.2097146 |access-date=2024-08-02 |website=The Irish Times |language=en |archive-date=2024-08-02 |archive-url=https://web.archive.org/web/20240802111740/https://www.irishtimes.com/business/financial-services/hsbc-revelations-shine-light-on-secretive-diamond-world-1.2097146 |url-status=live }}{{Cite book |title=eBizguides Angola: All you need to know to do business and have fun |year=2008 |isbn=9788493397883 |pages=206}}{{Cite web |date=2003-08-13 |title=Diamonds.net - Sodiam to Replace ASCORP |url=http://www.diamonds.net/News/NewsItem.aspx?ArticleID=8384&ArticleTitle=Sodiam+to+Replace+ASCORP |access-date=2024-08-02 |website=www.diamonds.net}}
In 2017, SODIAM divested its shares of Swiss jewelry chain De Grisogono "for reasons of public interest and legality." At the time, De Grisogono was, according to a 2020 report known as the Luanda Leaks by the International Consortium of Investigative Journalists, controlled by Sindika Dokolo, the husband of billionaire Isabel dos Santos, who was the daughter of former President José Eduardo dos Santos and the head of Sonangol prior to her removal from that position by President João Lourenço.{{Cite web |title=Angolan State-Owned Diamond Co. Backs Out of De Grisogono |url=https://nationaljeweler.com/articles/6240-angolan-state-owned-diamond-co-backs-out-of-de-grisogono |access-date=2024-08-02 |website=nationaljeweler.com |language=en |archive-date=2024-08-02 |archive-url=https://web.archive.org/web/20240802111740/https://nationaljeweler.com/articles/6240-angolan-state-owned-diamond-co-backs-out-of-de-grisogono |url-status=live }}{{Cite news |date=2020-01-29 |title=Swiss Diamond Jeweler at Heart of Angolan Scandal Goes Bankrupt |url=https://www.bloomberg.com/news/articles/2020-01-29/geneva-jeweler-in-luanda-leaks-allegations-files-for-bankruptcy |access-date=2024-08-02 |work=Bloomberg.com |language=en |archive-date=2024-08-02 |archive-url=https://web.archive.org/web/20240802111740/https://www.bloomberg.com/news/articles/2020-01-29/geneva-jeweler-in-luanda-leaks-allegations-files-for-bankruptcy |url-status=live }} Isabel dos Santos had also been a shareholder in ASCORP, and had reportedly been funneling diamonds out of Angola for her personal enrichment.{{Cite web |date=2017-03-10 |title=ANGOLA: Oil, Diamonds & One Family’s Phenomenal Greed - The Elephant |url=https://www.theelephant.info/analysis/2017/03/10/angola-oil-diamonds-one-familys-phenomenal-greed/ |access-date=2024-08-02 |language=en-US |archive-date=2024-08-02 |archive-url=https://web.archive.org/web/20240802111742/https://www.theelephant.info/analysis/2017/03/10/angola-oil-diamonds-one-familys-phenomenal-greed/ |url-status=live }} She is wanted by Angolan authorities for corruption and barred from entering the United States for the same reason.{{Cite web |title=Gestão da Sonangol: PGR mandou instaurar processo criminal contra Isabel dos Santos |url=http://www.angonoticias.com/Artigos/item/62572/gestao-da-sonangol-pgr-mandou-instaurar-processo-criminal-contra-isabel-dos-santos |access-date=2024-08-02 |website=ANGONOTÍCIAS |archive-date=2020-01-21 |archive-url=https://web.archive.org/web/20200121135035/http://www.angonoticias.com/Artigos/item/62572/gestao-da-sonangol-pgr-mandou-instaurar-processo-criminal-contra-isabel-dos-santos |url-status=live }}{{Cite web |title=Isabel dos Santos Barred from U.S. for ‘Significant Corruption’ |url=https://www.pbs.org/wgbh/frontline/article/luanda-leaks-isabel-dos-santos-barred-from-us/ |access-date=2024-08-02 |website=FRONTLINE |language=en-US |archive-date=2024-05-24 |archive-url=https://web.archive.org/web/20240524114219/https://www.pbs.org/wgbh/frontline/article/luanda-leaks-isabel-dos-santos-barred-from-us/ |url-status=live }}{{Cite news |last=Osborne |first=Hilary |last2=Barr |first2=Caelainn |date=2020-01-19 |title=The diamond deal that rocked Angola |url=https://www.theguardian.com/world/2020/jan/19/diamond-deal-that-rocked-angola-de-grisogono-luanda-leaks |access-date=2024-08-02 |work=The Guardian |language=en-GB |issn=0261-3077 |archive-date=2024-08-14 |archive-url=https://web.archive.org/web/20240814160847/https://www.theguardian.com/world/2020/jan/19/diamond-deal-that-rocked-angola-de-grisogono-luanda-leaks |url-status=live }}
In 2023, SODIAM exported 9.9 million carats of rough diamonds.{{Cite news |last=Arnoldi |first=Marleny |date=8 April 2024 |title=Sodiam to host online rough diamond tender on April 19 |url=https://www.miningweekly.com/article/sodiam-to-host-online-rough-diamond-tender-on-april-19-2024-04-08 |access-date=2 August 2024 |work=Mining Weekly |archive-date=8 April 2024 |archive-url=https://web.archive.org/web/20240408170617/https://www.miningweekly.com/article/sodiam-to-host-online-rough-diamond-tender-on-april-19-2024-04-08 |url-status=live }}
Operations
SODIAM is a complex operation with numerous subdivisions both nationally and internationally. These include:
- SODIAM's corporate headquarters in Luanda{{Cite web |title=Operações – SODIAM, E.P – Sodiam |url=https://sodiam.co.ao/operacoes/ |access-date=2024-08-02 |language=pt-BR |archive-date=2024-08-02 |archive-url=https://web.archive.org/web/20240802111742/https://sodiam.co.ao/operacoes/ |url-status=live }}
- Polo de Desenvolvimento Diamantífero de Saurimo (PDDS), a logistics operation in Saurimo focusing on streamlining diamond production and the supply chain{{Cite web |title=Pólo de Desenvolvimento Diamantífero – Sodiam |url=https://sodiam.co.ao/polo-de-desenvolvimento-diamantifero/ |access-date=2024-08-02 |language=pt-BR |archive-date=2024-08-02 |archive-url=https://web.archive.org/web/20240802111741/https://sodiam.co.ao/polo-de-desenvolvimento-diamantifero/ |url-status=live }}
- Centro de Treinamento em Avaliação e Lapidação de Diamantes (CEFOLAD), a professional training facility in Saurimo{{Cite web |last=grxnet.com |title=Ministério dos Recursos Minerais, Petróleo e Gás - Notícias - CEFOLAD REALIZA CERIMÓNIA DE OUTORGA DE CERTIFICADOS |url=https://mirempet.gov.ao/ao/noticias/cefolad-realiza-cerimonia-de-outorga-de-certificados/ |access-date=2024-08-02 |website=MIREMPET, Ministério dos Recursos Minerais, Petróleo e Gás |language=pt |archive-date=2024-08-14 |archive-url=https://web.archive.org/web/20240814160939/https://mirempet.gov.ao/ao/noticias/cefolad-realiza-cerimonia-de-outorga-de-certificados/ |url-status=live }}
- Offices in Antwerp, Belgium under subsidiary SODIAM Antwerp BVBA{{Cite web |title=Sodiam Antwerp BVBA - Company Profile and News |url=https://www.bloomberg.com/profile/company/0463305D:BB |access-date=2024-08-02 |website=Bloomberg.com |language=en |archive-date=2024-08-14 |archive-url=https://web.archive.org/web/20240814160939/https://www.bloomberg.com/profile/company/0463305D:BB |url-status=live }}
- Offices in Israel, Dubai, Shanghai, and Macau