Diamond production in Angola in 2018 reached a reported 9.43 million carats, fetching the country US$ 1.2 billion in sales revenue, according to media reports quoting the head of state-owned diamond company Endiama. The figures were on par with those achieved in 2017 when 9.44 million carats were produced and sales revenue totalled US$ 1.1 billion.

The reports said that Endiama’s chairman José Manuel Ganga Júnior announced that the country had produced 9.22 mn cts through industrial production, which was 8% above the forecast for the year of 8.53 mn.

However, he reported that production in the semi-industrial and artisanal sector, which was reported at 212,540 cts was below the 465,120 cts that the sector produced in 2017.

The official was also quoted as saying that the country sold 8.26 mn cts of rough in 2018 at an average price per carat of US$ 148.65.

During the past year, the company was focused on analysing its projects and defining guidelines for each of them in an attempt to increase margins. Currently it is reported to hold 17 exploration concessions, with the majority being areas for alluvial mining, and only three being identified as kimberlites.

The exercise was in tandem with the government’s move to revamp the country’s diamond policy and amend the rules regarding sales so as to better determine the market value of Angola’s production.   

Earlier reports say that the government is also setting up a second manufacturing hub focused on the diamond industry. The project, which is said to include a cutting and polishing factory, a training institute and other and facilities for ancillary companies and related services, is located at Saurimo, Lunda Sul province. It is expected to start functioning by August this year.

Endiama chairman Ganga Junior was also reported to have said that production for 2019 has been forecast at 9.5 – 9.85 million carats and with a revenue target of US$1.3 billion at an average price of US$154 per carat.

By 2022, the country aims to be among the world’s top two producers with a target to increase production to 14 mn cts.