According to a note, the state-owned diamond company Sociedade de Comercialização de Diamantes de Angola (Sodiam) justified the growth in revenue with a new diamond marketing policy, through which the status of preferential customer was eliminated and new ways of selling these precious stones were adopted.
In the previous fiscal year, for 2017-2018, Sodiam recorded a gross revenue of 1.220 billion dollars.
According to the note cited by Angop, the new marketing system made possible "several improvements in the sector", including "the registration of more than 120 companies in Sodiam's client portfolio" and the opening of three new cutting plants.
The government's implementation of new ways of selling diamonds allows the main players - producer, Sodiam and independent evaluator - to define the base price of reference in advance.
Accordingly, on Thursday the Ministry of Natural Resources and Petroleum announced the opening of a public tender for the hiring of three independent valuers in order to determine the base price for the sale of these crystals in a format that enables the sale of diamonds at a regulated price.