Industry News by Nemesis

Angola: Diamonds Subsector May Increase Production

January 23, 2016

The subsector of diamonds in Angola this year expects to reach the production of 8.9 million carats against 8.8 carats produced in 2015, according to a document from the Ministry of Geology and Mining.


According to the document, from this production, the annual target for industrial production is 8.1 million carats, while for artisanal production is expected to reach 860.424 carats.


In December 2015, it was produced and sold 880.115 carats, valued at USD 104.7 million, the average price of USD 118 per carat, while in November of last year, 796.075 carats were produced, worthing USD 99.2 million, the average price of USD 124 per carat, having recorded an increase in the volume and value of 10.56% and 5.46%.


It underlines that in the light of Presidential decrees, the sector will create the Technical Unit for the Support of Private Investment (UTAIP), a structure with exclusive powers to prepare, conduct, evaluate and approve private investment projects.


On the other hand, the geology and mining sector has three projects in brokering stage of financing and development of mining. These are the Nióbio project (metal used to make steel) in Huíla province, Gold of M'pompo in Huíla, and Tchiuzo (diamond) in Lunda Sul.


In addition, the sector counts on three structuring projects - Luaxe (diamond) in Lunda Sul, Mavoio, Tetelo and Bembe (copper) in Uige, and the Binda Waterfall project (copper) in Cuanza Sul province .


Source: All Africa

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