Industry News by Nemesis

Angola Extends Search for Independent Valuators of Rough Diamonds

April 12, 2020

 

The government of Angola has extended by 45 days the search for three independent valuators to assort, value and determine the reserve prices of Angolan rough diamonds prior to their commercialisation.


The public tender was launched on 19 February and submitted proposals should have been opened in a public event on 7 April.  


Angola’s ministry of mineral resources said in a statement that the extension was a result of the Covid-19 pandemic and the need to adopt measures to safeguard the health and wellbeing of local and foreign participants.


The changes meant that the publication of the results would now be on 16 June, while the contracted service of the independent evaluators would begin on 20 July.


The contracting entity will be the mineral resources ministry, which is responsible for the implementation of the rough diamond marketing policy in the country. 


The move was part of the changes brought to the diamond industry by the government of president Joao Lourenço. 


Ministry general secretary Américo Miguel da Costa said the valuators will help the country get a fair market price for its rough diamonds. 


“Service agreement contract shall be given to those candidates whose proposals are considered to be economically and technically more beneficial and who demonstrate the necessary skills...,” he said. 


Interested valuators will be expected to folk out $2500 for the tender. 


Angola earned about 1.3 billion from just over 9.44 million carats of diamonds sold in 2019. 


Angola is projecting an output of 14 million carats in 2020.

 

Source: Rough&Polished

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