Diamond mining in Angola opening to South African entrepreneurs

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Angola is working to ensure that the biggest South African companies in the diamond mining sector can operate in the country, the head of strategic planning and mineral operations of Angola’s national diamond company (Endiama) recently stated in Luanda.

Laureano Paulo was hosting a delegation of South African entrepreneurs who visited Endiama headquarters. The participation of South African companies will be advantageous for the sector, given their experience in that activity, he said, as reported by the newspaper O País.

The 2018/2022 national development plan approved last April by the Council of Ministers projects a substantial increase in diamond production to 13.8 million carats per year. That major growth will be driven by the start of operations at various mines, especially the one at Luaxe.

The Endiama administrator explained that the sector is working on new projects, namely the exploitation of new kimberlites, and has turned to recognising the potentials of companies from South Africa, a country with a great deal of tradition in the diamond sector.

In 2017 Angolan diamond production reached 9.4 million carats, bringing in gross revenue of US$1.1 billion resulting from sales at an average price per carat of US$113.

Sociedade Mineira de Catoca contributed with 89.22% of total production, of which 70% was sold to the United Arab Emirates, Hong Kong, Belgium and Switzerland. -Macauhub

 

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