Angolan state-owned diamond company, Endiama has acquired earth moving equipment worth $10 million to reduce operating costs of companies involved in alluvial diamond mining, according to the local media. Diamond companies were forced to shut down their operations and halt sales due to lockdowns introduced to contain coronavirus.
Endiama Mining director general Pedro Galiano was quoted by Angop news agency as saying that the world diamond output dropped by about 50% since March to date compared to the same period last year.
He said that the Angola would register lower revenue from diamond sales this year should the pandemic continue.
Angola sold 1.5 million carats at an average price of $155.3 per carat in the first half of 2019, resulting in a gross revenue of $232.9 million.
Endiama said last week that Angola will this year produce 8 million carats from the initial target of 10 million carats.
The country produced 9.2 million carats in 2019.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
