Responding to Lusa about the possibility of selling Angolan diamonds to the US, after the replacement of the Russian company Alrosa, a former partner of Endiama, by Taaden (which belongs to the Sovereign Fund of the Sultanate of Oman), Rapaport stated that "the issue of sanctions has been resolved", but warned that tariffs must be negotiated.
“At the moment, the tariff is 10 percent, but in September it could rise to 32 percent, unless there are negotiations”, said the businessman, a supporter of Donald Trump's policies to counter the US trade deficit and who presented his vision on the international diamond industry in Luanda.
The expert added that, “with patience and negotiations”, Angola can position itself as a supplier of critical minerals to the US, which could provide room for improving trade conditions.
Martin Rapaport, one of the most influential figures in the global diamond industry, is the founder and president of the Rapaport Group and in 1978 created the Rapaport Diamond Report, the main reference for setting prices in the trade of rough and polished diamonds. He is also the creator of RapNet, the largest electronic diamond trading platform in the world.
Despite praising the evolution of the diamond sector in Angola, Martin Rapaport emphasized that “the business is not just about extracting, it is about selling”, arguing that investment in production should be accompanied by investment in marketing.
“If efforts are made in marketing as in production, Angola will be a winner”, he stressed.
Regarding Angolan diamond projects, the North American expert was more impressed with Luele than with Catoca, pointing out environmental concerns in the largest national diamond mine.
“When I look at Catoca, I see a huge hole. We need to talk about land reclamation, about what happens next. Luele is new, I like solar energy, hydroelectricity, it’s a good story,” he said.
The Luele mine is the country’s newest diamond project, having started operations in 2023, emerging as the largest kimberlite deposit in Angola.
The Catoca and Luele mining companies account for more than 80 percent of the country’s diamond production.
Rapaport also advocated a phased brand strategy, focusing on the Luele mining project as a first step, with a positioning geared towards demanding markets such as the US and the Persian Gulf.
“The relationship with the US is essential, but they should also look to the Gulf, where there are no sanctions or tariffs,” he noted, also advocating a multifaceted approach to marketing, using channels such as social media, videos and digital influencers.
Rapaport also praised the government’s strategy of reaching out to consumer markets and the international jewelry industry, including a recent visit to the United States by the minister in charge, Diamantino Azevedo.
“If you want to understand your customer, go visit your customer,” he encouraged.
