Diamond exports from Angola declined by 8.45% during 2016, generating revenue of US$ 1.082 million as against the US$ 1.182 million earned a year earlier, according to media reports. Quoting statements by minister of Geology and Mining of Angola, Francisco Queirós, the media said that the country produced 7.2 million carats during 2016 as compared to 8.394 mn carats of rough during the earlier year.

While the Catoca Mining Society, comprising Empresa Nacional de Angola Diamonds (Endiama), Alrosa (Russia), LLV (China) and Odebrecht (Brazil), extracted nearly 75% of the rough produced in the country, artisinal production during the period declined by nearly 60% the reports stated. Also, the average price per carat dropped from US$ 145 in October to US$ 116.9 in November.

However, the minister is reported to have said that the diamond sub-sector continues to show “strong sustainable performance, offering a good outlook for substantial recovery in the coming years.”