Industry News by Nemesis

Angola to Lift Diamond Output to 14 Mcts in 2022

February 10, 2020

Angola is planning to boost its diamond production to 14 million carats in 2022 from just above 9.1 million carats produced in 2019, according to mineral resources minister Diamantino Azevedo.

Angola said 12 diamond producing companies will be responsible for the increase in the country’s production.

Several diamond projects are currently undergoing restructuring and receiving new investments.

These include main projects such as Luo, Camutue, Calonda and Luarica.

Azevedo told delegates at the Investment in African Mining Indaba, in Cape Town on Tuesday that Angola wants to diversify its economy away from oil and diamonds.

He said they are looking at alternatives such as gold, iron ore, manganese and silver.

Azevedo also said Luanda was fighting corruption to attract new investment.

“Gone are the days when corruption was accepted practice,” he said.

State prosecutors in Angola recently indicted Isabel dos Santos, Africa’s richest woman and daughter of Angola’s former president, on fraud-related charges for mismanaging and embezzling funds during her short stint as chairperson of the state’s oil firm, Sonangol.


Source: Rough&Polished

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