Angola is poised for another record year of diamond production, with output reaching 10.7 million carats in the first nine months of 2025, Reuters reported, citing a government official.
The country, which became the world's third-largest diamond producer by volume in 2024 after a record 14-million-carat haul, is targeting 14.8 million carats for the full year.
Secretary of State for Mineral Resources, Jânio Correa Victor, attributed the strong performance to operational stability at two key mines: the Catoca Mining Company and the Luele Mining Company.
The two firms are joint ventures between Angola's state-owned Endiama and Taadeen Investment LLC, a subsidiary of Oman's sovereign wealth fund.
The Omani company replaced Russian miner Alrosa as Angola's strategic partner in 2024, following sanctions imposed on Moscow after it invaded Ukraine.
Despite the rising production, the value of Angola's rough diamond exports fell by 14% during the period, even as export volumes doubled.
Victor pointed to a global collapse in diamond prices, driven by competition from synthetic stones, global economic uncertainty, U.S. trade tariffs, and a stagnant post-pandemic market in China.
Mathew Nyaungwa, Editor-in-Chief, Rough & Polished
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