Angola is planning to produce 14 million carats of diamonds by 2022 when the Luaxe mine in Lunda Sul province starts its operations, according to a news report citing Endiama.
The country produced 9,4 million carats last year.
Luaxe kimberlite, which was discovered in 2009, has an estimated reserve of 350 million carats.
Angola’s national diamond company, Endiama president Ganga Júnior was quoted by Macauhub as saying that they will expedite the process of building the facilities required to extract and process the diamonds as the kimberlite is “strategic”.
He said this will initially cost between $250 million and $300 million.
Júnior said that production at the Luaxe mine, which is owned by Endiama and Alrosa, will be developed in phases to achieve a processing capacity similar to that of the Catoca mine.
Catoca produces more than 80% of Angola’s total output in volume terms.