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All the signatories agreed to contribute 1% of the annual revenue   The World Federation of Diamond Bourses expressed full support for the Luanda Accord, the agreement reached last week among major diamond-producing countries and trading centers to fund the promotion of natural diamonds, in a meeting in Luanda, Angola.   All the signing parties have agreed to contribute 1% of the annual revenue they generate from rough diamonds to the Natural Diamond Council’s promotion budget. The accord was signed by Botswana, Angola, Sierra Leone, Namibia, South Africa, the Democratic Republic of Congo, Antwerp World Diamond Center, the African Diamond Producers Association, Dubai Multi Commodities Center, and India’s Gem & Jewellery Export Promotion Council.    The Luanda Accord was signed a week after the WFDB Presidents’ Meeting in New York, where all parties agreed that it was imperative for the industry to join together to take action to support natural diamonds. ...

  Diamond production reaches 5.3 million carat in 8 months   Angola produced from January to August this year, 5.3 million carats of diamonds, and until December the target is to reach the mark of 8.3 million carats, which is a drop down  of about 20% compared to the initial estimate, announced the president of Endiama, Ganga Júnior.   For this year, the National Diamond Company (Endiama) had a production target of 10.5 million carats and a turnover of 1.4 billion US dollars. The 20% drop is due to the readjustments in the exploration sector, in face of the Covid-19 pandemic. Ganga Júnior, last day was the main speaker at the virtual Conference on Diamonds in Angola, said that due to the readjustments, the forecast is to collect revenues of USD 1.1 billion by the end.  He said that depending on the current context, the sector has some stocks of diamonds, whose quantities have not been revealed.   "So far we have stocks of diamonds as a result of weak de...

The historic competitive Diamond bid for Angola The first diamonds offered for sale Under the new diamond marketing policy The significant diamond sector reforms being enacted by the President of Angola, His Excellency Joao Lourenco, to grow investment into the Angolan mining sector, will take another major step forward this month as the inaugural competitive bid sale of large and premium-quality diamonds from the high-quality Lulo diamond mine takes centre stage in the Angolan capital of Luanda. The sale will mark a significant milestone for the Angolan diamond mining industry, being the first diamonds offered for sale in a competitive process under the new diamond marketing policy enacted by President Lourenco and the Angolan Council of Ministers. The historic Lulo competitive bid sale, which is scheduled to close on 31 January 2019, is being organised in Luanda by SODIAM, the state-owned company responsible for the trading of diamonds in Angola. The new ...

Angolan President approves regulations & Lulo to offer in first tender Historic Angolan Tender in January 2019 Lucapa Diamond Company announces 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. The Lulo partners, in conjunction with Sodiam, will invite major international diamantaires and large s...