Ver Angola

Raw Materials

Angola expects to earn 2.1 billion this year and produce 14.8 million carats of diamonds

Endiama expects to produce 14.8 million carats of diamonds and generate revenue of 2.1 billion dollars by 2025, the chairman of the board of directors said on Wednesday.

: Sodiam
Sodiam  

José Ganga Júnior, who was speaking on the occasion of the company's 44th anniversary, estimated the price of diamonds per carat at 146 dollars this year, despite market problems.

According to the chairman of the board of directors of the Angolan National Diamond Company (Endiama), the significant reduction in prices has been going on for some years, reaching more than 60 percent in some cases.

"The fact is that (...) we have a stock of diamonds of more than three million carats, the market at this moment is not absorbing diamonds," said the official.

In consultation with the main producers, namely the multinationals De Beers and Alrosa, the national diamond company defined the need to "reduce production".

"In truth, that is what is happening, in the sense of creating more demand, more appetite, for the consumer. We need to see how to solve this. On the other hand, the country needs money, but to produce and not yield, I don't know what will it be better?

In 2023, Angola recorded a production of around eight million carats and earned 2.9 billion dollars and in 2024 it reached the production record, with 14 million carats and a turnover of just 1.4 billion dollars.

"We were doing a calculation: if we were to earn with the prices of the previous year, we would reach almost three billion dollars with the production we had in 2024. So, this is a problem that we have and that we need, together with the Government, to address and see that path we will follow," he said.

For 2025, one of the challenges, according to the president of the public diamond company, is to improve the organization to anticipate future challenges, namely the implementation of production tracking certificates, with all mining companies in which Endiama is a partner and its subsidiaries.

"Today, diamond buyers are increasingly raising issues about the origin of diamonds, whether or not they comply with environmental sustainability rules, whether there is no child labor, whether [production] is properly carried out. This is work we need to do", he highlighted.

José Ganga Júnior also pointed out synthetic diamonds as challenges, stressing that "new people who are consuming diamonds no longer care if it is a natural diamond that comes from the mines or if it is in a laboratory, where in five minutes a machine, and cheaply, makes the diamond".

"They want the diamond and nothing else, we need to work towards showing people that natural diamonds are changing lives, bringing wealth, transforming society," he added.

The official informed that the producers decided to form an Association of Natural Diamond Producers, and an installation committee has already been formed, with the main projects, but that it should be extended to other producers, "to find survival mechanisms".

The same effort is being developed at an international level with the integration of Endiama into the Natural Diamond Defense Committee, he said.

Related

Permita anúncios no nosso site

×

Parece que está a utilizar um bloqueador de anúncios
Utilizamos a publicidade para podermos oferecer-lhe notícias diariamente.