Industry News by Nemesis

Angola Rakes In $85M From January Diamond Sale

March 28, 2018

Angola exported 620,485 carats of diamonds last January worth about $85 million, Portuguese news agency Lusa reports citing official figures.

The diamonds were sold at an average price per carat of $136.24, the second highest value since October 2016.

The highest average price per carat of diamonds exported by Angola was recorded in November 2017 when it reached $138.60.

The country’s finance ministry was quoted as saying that they collected 1.331 billion kwanzas (5 million euros) in taxes from the sale of the diamonds.

The Angolan government said the country’s annual diamond output was expected to double once the Luaxe mine and other small to medium-sized projects commence production.

Luaxe, owned by Endiama and Alrosa, was projected to record an annual output of between 8 million carats and 10 million carats.

Angola produced 9.44 million carats of diamonds last year from its extensive kimberlite and alluvial projects, earning $1.102 billion in revenue, according to data from the country’s ministry of mineral resources show.


Source: Rough&Polished

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