Angola has the potential to become the largest diamond mining country in the world, according to the World Federation of Diamond Bourses (WFDB).
The southern African country has diamond reserves estimated at 180 million carats, mainly in the provinces of Lunda Norte and Lunda Sul in the central and northeastern parts of the country.
Angola produced 8.4 million carats in 2018 worth $1.2 billion.
The country intends to establish a diamond bourse in Luanda, as part of its strategic plans.
“We are happy to welcome this important move from Angola, a key player for future diamond mining potential and we welcome the important changes which have been taking place in the country,” said WFDB president Ernie Blom.
"Obviously the WFDB is ready to welcome a new diamond bourse and we are happy that this is being studied.”
WFDB has 30 affiliated bourse members and exists to protect the interests of affiliated bourses and their individual members.