Industry News by Nemesis

Endiama Eyes Diamond Prospecting, Mining Equipment

December 11, 2015

Angolan diamond company, Endiama, is seeking for equipment to boost diamond prospecting and mining in the country.

 

Company chief executive Carlos Sumbula was quoted by state-owned news agency, Angop, as saying on the sidelines of an Africa-China business forum that the Asian giant offered new mining equipment for prospecting.

 

He also said that the company was also targeting buyers from China and partners to polish diamonds and make jewelry.

 

"We are still looking for partners so that we can trade our products," Sumbula said.
Angola earned $1.274 billion from 8.6 million carats of diamonds sold last year.

 

The country recently said that it exported 624,000 carats of diamonds last month worth $86.1 million.

 

This was a 16.9 percent drop when compared with the same period last year.

 

The country exported 751,100 carats of diamonds in October 2014, which raked in $144.5 million in revenue.

 

Source: Rough & Polished

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