Angolan diamond production dropped by 20%
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 demand, but recently we ha