Angolan national diamond trading company, Sodiam, amassed $12.9 million from selling 44 diamonds totalling 1,493 carats.
37 foreign firms participated in the October 16 auction, which sold stones from the Somiluana, Lulo, Kaixepa, Tchegi, Chitotolo, Luele, and Catoca mines.
Bidding took place online following evaluation sessions at Sodiam's facilities from October 7 to 15.
Despite the large stock levels and weak demand in the worldwide market, Eugénio Bravo da Rosa, the chairman of Sodiam, expressed satisfaction with the prices attained for specific types of Angolan diamonds.
He observed that the auction results would provide some respite to the financial pressure on mining businesses, while industry stakeholders continue to pursue strategies to alleviate the adverse consequences of the present market downturn.
Mathew Nyaungwa, Editor in Chief, Rough&Polished from Luanda, Angola
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