Ver Angola

Raw Materials

Country wants to create Diamond Exchange with increased production and reduced gold mining

The Angolan Minister of Mineral Resources, Oil and Gas announced this Monday that the sector will create a Diamond Exchange, with measures that include "increasing diamond production and cutting and decreasing gold mining".

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Diamantino Pedro Azevedo, who was speaking in Luanda, at the presentation ceremony of the Diamond Development Pole of Saurimo, Lunda Sul province, said the sector is organizing semi-industrial exploration and creating a robust, transparent diamond trading system and international in nature ".

Angola currently has four diamond-cutting factories, all in Luanda, and the Saurimo hub, estimated at US $ 77 million, which is expected to be completed in November, should bring together four more polishing factories.

"It is the executive's intention to encourage the emergence of more polishing factories, mainly in the diamond-producing provinces," stated the minister.

The Saurimo Pole foresees the creation of an industrial infrastructure infrastructure, "that allows the local addition of value, the promotion and growth of the diamond processing activity and the emergence of the local jewelery industry", he said.

According to the official, the Angolan National Diamond Trading Company (Sodiam), the project manager, was oriented towards "creating conditions and a business environment that provides and facilitates private investment".

For, he observed, "investment decisions of this nature are conditioned to the pre-existence of support infrastructures, which otherwise could make the total value of investments more expensive".

Diamantino Pedro Azevedo also assured that in addition to the infrastructural environment, the project "will have a legal status as a free zone, which will confer a set of operational and fiscal incentives and benefits to all companies installed there".

For the Minister of Mineral Resources, Oil and Gas, the infrastructure that is being built in an area of ​​more than 305 thousand square kilometers is an "invitation to investors to embrace the opportunities to expand their business".

A training center in diamond evaluation and polishing under the responsibility of Sodiam and another specialized in geology, studies and projects of the National Diamond Company of Angola will be installed at the hub.

The industrial area is composed of 26 lots of different dimensions for the implantation of factories and industries in the mining sector, where public and private companies that develop the mining activity "may compete to obtain spaces".

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