State-owned diamond company Endiama is targeting to produce 14 million carats of diamonds this year despite the current soft market.
Company ENDIAMA chief executive Ganga Júnior told the Angola International Diamond Conference in Saurimo that their target is to grow output to between 16 million and 17 million carats by 2027.
Data released by the company earlier this year showed that revenue is also expected to rise to $2.62 billion in 2027.
The recent opening of the Luele diamond mine, which is expected to displace Catoca as Angola’s largest diamond mine, will contribute towards the growth of the.
Luele kimberlite has an ore quantity of 647 million tonnes which will result in the production of 628 million carats.
The mine is projected to run from 2023 to 2083.
Angola produced about 9.8 million carats of rough diamonds in 2023, realising $1.5 billion in revenue.
Mathew Nyaungwa, Editor in Chief, Rough&Polished from Saurimo, Angola
