Angola has revised its diamond output target for the year to 10.5 million carats valued at $1.4 billion, according to media reports citing the country's National Diamond Company (Endiama).
Xinhua quoted company chief executive Jose Ganga Junior as saying that they initially expected to produce 13.8 million carats of diamonds this year worth about $1.9 billion.
He said the revision was due to the "current context and market prices".
"The information we have today, in terms of diamonds, points to a certain contraction in terms of prices, which is why we prefer to be a little conservative, but if we manage to obtain substantially higher prices, we will all applaud," Ganga Junior was quoted as saying at a press conference.
Angola produced 6.5 million carats of rough diamonds in the first 10 months of 2021.
The country had a target of producing 9.1 million carats last year.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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