Angola defends their view to review price factors!

 

Expect greater African cooperation & alignment of strategies  

The Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, Angola, defended in Luanda for greater cooperation and alignment of strategies among African countries to revive global natural diamond prices on the international market. 

Speaking at the opening of the ministerial roundtable on natural diamonds, the minister pointed out the need to launch unified global campaigns that position natural diamonds as an active force for good, regional cooperation, and the equitable development of mineral resources.

"When consumers choose to buy natural diamonds, they should do so with the awareness that they are supporting real human transformation, financing classrooms, hospitals, and dreams across Africa," Azevedo said. He considered it essential to harmonize regional policies, creating fairer markets and promoting shared prosperity on the continent.  

The minister noted that the African continent accounts for more than 65% of the world's rough diamond production, with countries such as Angola, Botswana, South Africa, Namibia, the Democratic Republic of Congo (DRC), and Sierra Leone as the main producers in Africa.  

"The true measure of wealth is not in the number of carats extracted, but in the value, we retain, the future we build, and the dignity we preserve," the minister said. He added that in Angola, diamonds have contributed significantly to national reconstruction, financing schools, hospitals, roads, and water supply systems and that in addition to extraction, the country is investing in valuation, traceability, transparency, and good governance.

Diamantino Azevedo recalled that in 2024, Angola produced more than 14 million carats, representing 96% of the national target. He recalled that the country inaugurated the Luele diamond mine, one of the largest reserves in the world, and is expanding the Saurimo Diamond Development Pole with the addition of 19 new factories.

He also said that the sector is establishing the Angola Diamond Exchange, a modern trading platform, and preparing for the country's formal integration into the Natural Diamond Council, a step that strengthens its global positioning and contributes to a positive image of the Angolan diamond subsector.  

The one-day ministerial roundtable on natural diamonds brought together ministers responsible for the mineral resources sector from the main African diamond-producing countries, namely Botswana, Namibia, South Africa, Sierra Leone, and the Democratic Republic of Congo.  

The event provided an opportunity to reflect on the challenges currently facing the industry through actions across the sector and to reinforce the promotion of the inherent value and positive impact of natural diamonds. It also aimed to inspire a new generation of global consumers of natural diamonds in order to help ensure their continued positive impact on producing nations and communities in the coming decades.