Ver Angola

Raw Materials

Diamond exchange should start operating experimentally in 2022

The Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, said that he hopes to launch the diamond exchange in Angola, on an experimental basis, next year, stressing that he intends to cooperate in this field with Belgian businessmen.


The minister was speaking at a meeting, this Monday in Luanda, with a delegation of more than 20 Belgian businessmen, associated with the Antwerp World Diamond Center (Antwerp World Diamond Center), an organization that represents more than 1600 companies in this sector.

In his opening speech, Diamantino Azevedo addressed the ongoing changes in diamond marketing in Angola, which are necessary to eliminate monopoly practices, and which will constitute a transitory moment for a more efficient mechanism for the marketing of diamonds, the future exchange.

The government official stressed the willingness to cooperate with AWDC and other exchanges worldwide, to improve marketing, and added that the government is also working on increasing the diamond cutting capacity.

For this purpose, a park is being created for the installation of factories in Saurimo (Lunda Sul), he said, appealing to Belgian businessmen to invest in this polishing pole, as well as in the areas of prospecting and production of diamonds.

Regarding mining potential, Diamantino Azevedo recalled that Angola has the fourth largest primary diamond mine in the world and "soon" one of the larger ones is expected to go into production.

Belgium's ambassador, Jozef Smets, who accompanied the meeting, said the purpose of the visit is to intensify existing contacts and present Antwerp as a diamond business center, offering the best prices and a guarantee of transparency, but also giving to know the executive's projects and policies.

For his part, the president of Endiama, a public mining company, stressed that Angola wants to take advantage of the Belgian experience in the future exchange.

As for the start-up of the new mines, he indicated that the Luaxe mine should have "some experimental production" already this year, and that smaller ones, such as those in Luembe and Cassaguidi, should also start operating.
The goal is to achieve a production of 14 million carats next year.


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