Angola Eyes Becoming Worlds Third Largest Diamond Producer

Angola is tapping into its potential and aspiring to become the  worlds third largest diamond producer and cutter in the world, the CEO of its national diamond company Endiama said on Monday. “We have been working with major diamond companies around the world to add more value to the sector,” Jose Manuel Ganga Junior told the media while reviewing the company’s performance in 2019. Semi-industrial diamond exploration will be discarded and full industrial operations will be installed to improve competitiveness, transparency and efficiency, said, Ganga.

Worlds Third Largest Diamond Producer

He hoped that relevant measures will help create more jobs and cut down on imports while increasing exports. Angola is the world’s fourth-largest rough diamond producer trailing after Russia, Botswana and Canada, according to The diamond sector in Angola produced 9.086 million carats in 2019, a fall of 4.8% on year due to the closure of a mine, and with semi-industrial production the total was 9.121 million carats, the president of Angola’s national diamond company Endiama said on Monday in Luanda.

Ganga Júnior said that the semi-industrial diamond sector had accounted for the production of 35,856 carats of diamonds last year. The industrial sector sold 9.114 million carats at an average price of US$138.58 per carat, which compares with US$168.45 per carat in 2018, or a 7.0% drop in price. The overall total – industrial and semi-industrial diamonds – sold in 2019 was 9.149 million carats, the president of Endiama said. The sales recorded in 2019 reached US$1.263 billion, or an increase of 10% on year, which resulted in an additional revenue of US$34.7 million.

-CGTN & Macauhub