Sodiam, the Angolan government company engaged in diamond prospecting, exploration, cutting and trading has reported gross revenue to US$ 316.52 million for the quarter ended June 30, 2018 (Q2), a 23.3% rise over the previous quarter, according to reports in the local media.

The reports quoted the company CEO, who spoke to newspersons just before a trading meeting on the market outlook for the third quarter. The meeting was organised by the Ministry of Mineral Resources and Oil in partnership with companies in the sector.

It was stated that the company reported a gross revenue of US$ 256.59 million in Q1 2018.

Of the total Q2 production, as much as 93% was from industrial scale activity (US$295.39 million) while the remaining 7% (US$21.48 million) was accounted for by artisanal activity, it was stated.

On the sales front, the report state that 2.31 million carats of diamonds were sold with 92% or 2.14 mn cts being sourced from industrial activity.

It was also reported that the average price per carat recorded in the second quarter was US$136.69. For industrial production the figure was US$137.45 per carta, while for artisanal production it was US$126.94.