Industry News by Nemesis

Angola Rakes in $601 Million from H1 Diamond Sales

August 8, 2019

Angola has raked in $601.4 million from 4.1 million carats sold in the first half of 2019, according to local reports citing data from the national diamond trading company of Angola, SODIAM. 

The volume of diamonds sold during the period under consideration eased 4,2% compared to the same period, a year earlier. 

Secretary of State for Mines Jânio Correia Victor said the decline was caused by Catoca, which failed to offer its diamonds during the month of April for sell due to operational reasons. 
However, revenue jumped 3,9% compared to the first half of 2018. 

Angola produced 9.4 million carats worth $1.2 billion in 2018. 

The country intends to extend its annual production to 14 million carats. 

Source: Rough&Polished

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