Transparency to diamond market: Angola

Tender under Angola’s

New diamond marketing laws

The Angola government says, according to a source from the National Prospecting, Mining, Trading and Polishing Company of Angola (SODIAM), with the public sale of very high quality diamond stones, begins the implementation of the new diamond trade policy approved by the Cabinet Council aimed at ending the monopoly and preferable clients. 

The statement arrived from Angola Government in the context of Lucapa. Earlier Lucapa Diamond Company & their partners had announced about that diamonds from the Lulo mine in Angola will feature in an historic inaugural international tender under Angola’s new diamond marketing laws just approved by the President of Angola, His Excellency Joao Lourenco, and the Council of Ministers.

As such, Sociedade Mineira Do Lulo (SML) will showcase and sell the seven large and exceptional Lulo diamonds it has in inventory through an exceptional stone tender to be held in the offices of Sodiam (Angolan state diamond marketing company) in Luanda in January 2019.

The tender will mark a significant milestone for the Angolan diamond mining industry, being the first Lulo diamonds offered for sale at international tender under Angola’s new diamond marketing policy.

  

“With opening of the diamond trade market, investors can now see the national market and its agents, as privileged partners for the development of new projects. The source adds that the move is even more important, since the government is committed to turn Angola into more open country to foreign investment embedded of good practices international, since the nation is the fifth world’s biggest diamond producer a position it intends to boost and bolster” said the government.