Revenues increased at Angola diamond sector

Produced 9.4 million carats

Eye to earn 2.1 billion by 2022

The Angolan diamonds sector produced last year a total of 9.4 million carats of diamonds, which enabled the yielding of USD1.2 billion and the increase of revenues in relation to the year 2017. Speaking at a press conference, the CEO of the state-owned National Diamonds Company (Endiama), Ganga Júnior, disclosed that in 2017 the sector collected USD 1.1 billion (at the average price of USD 113.5).

In 2018, he continued, the industrial production of diamonds reached 9.2 million carats, representing an 8 per cent increase, while the semi-industrial and artisanal production of the precious stone reached 212,544 carats, a figure very bellow the 465,122 carats achieved in 2017.

Angop has learnt that the increase in production was stimulated by the new governmental policy that enables diamonds exploration agents to sell up to 60 per cent of their production, thus putting an end to trading only with preferential customers.  This strategy was passed by the Angolan Executive in July 2018.

At the press conference which was held in the ambit of the commemoration of Endiama’s 38th anniversary - Ganga Júnior announced that the company has a passive of 525 million dollars. He also seized the occasion to reveal that for the present year, Endiama expects a growth in revenue, that is, the yielding of USD 1.3 billion, an amount that is to be boosted to 2.1 billion by 2022. 

The company also expects that by the year 2021 it can be among the world’s best diamond producers. “We have been among the five biggest producers of diamonds in the world and we believe that we are in condition to reach, in 2021, the top three spot at international level”, emphasised the chairman of the National Diamonds Company (Endiama).