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Angola diamond revenue reaches $1.102bn

07 february 2018
Angola produced 9.44 million carats of diamonds last year from its extensive kimberlite and alluvial projects, earning $1.102 billion in revenue, data presented by the country’s ministry of mineral resources show.
The country produced 9 million carats valued at 1.079 billion in 2016.
The data made available by the ministry at the Investing in African Mining Indaba in Cape Town show that diamonds were sold last year at an average price of 116,76 per carat compared with 119,65 per carat in 2016.
Angola’s diamond mining interests were managed by Endiama, which holds the exclusive rights for exploring, mining, trading and polishing of the country’s stones.
The company had interests in Catoca, which produces more than 80 percent of the country’s annual diamond output.
It also had a stake in Lulo Diamond.
The Angolan government said Endiama, in partnership with Alrosa, had intensified its kimberlite and alluvial deposits in the Cuango Basin in the concession area of the Kimang project.
It was also engaged in prospecting activities at the Luaxe kimberlite together with Alrosa.
Luaxe was discovered in 2013 and had reserves evaluated at 350 million carats.

Mathew Nyaungwa, Editor in Chief of the African Bureau from Cape Town, South Africa, Rough&Polished