Industry News by Nemesis

Angola Exports 624,000 Carats of Diamonds in October

December 1, 2015

In October Angola exported 624,000 carats of diamonds, a year on year fall of 16.9 percent, which provided revenues of US$86.1 million (-40.4 percent), according to figures from the Ministry of Geology and Mines.

 

Each carat was sold at an average price of US$138, according to a ministry report released in Luanda.

In October 2014 Angola exported 751,100 carats of diamonds, which generated revenue of US$144.5 million, at an average price per carat of US$192.

 

Production in October reached 800,000 carats, an annual increase of 9.7 percent, driving an increase of revenues from diamonds sold, depending on the “quality and quantity of special stones from alluvial production in Cuango, Somiluana, Lulo and Chitotolo.”

 

In October industrial diamond production in Angola involved ten of the country’s 12 operating mines, with the Catoca mine, in Lunda Norte province, leading production with 576,776 carats in a single month.

 

In 2014 Angola raised about 10 billion kwanzas in taxes on the US$1.274 billion generated from the sale of 8.6 million carats of diamonds. 

 

Source: MacauHub

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