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Raw Materials

Angola has the potential to open five more diamond mines

Angola has the potential to open at least five diamond mines, doubling the current number, argued this Thursday the director of the Angolan Geological Institute, during a virtual conference.

: Getty Images
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"More than half of Angola's area has oil potential, but we still don't have geological information, more study is needed, but with the information we have now, it is safe to say that there is opportunity to open at least five more primary deposits," said Canga Xiaquivuila during the 'Angola Global Diamond eConclave 2021' forum, held this Thursday from Luanda.

"There are only three kimberlite mines," the rock where diamonds will potentially be, the official pointed out, noting that the exploration potential is enormous and enough to place the country at the top of diamond producers.

Before, the Minister of Natural Resources and Petroleum, had already invited investors to bet in the country, highlighting the reforms implemented by the Government and the good conditions for private companies.

"Angola's resources are internationally recognized as having one of the most potential in the world, and the diamond industry plays an important role in the development of the economy," said Diamantino Azevedo, stressing he was "confident that the mining industry can contribute more to the growth and development of the Angolan economy."

At the conference, organized to present business opportunities, the governor highlighted "the introduction of reforms to improve the business environment for the exploration, verification, recording and exportation of diamonds" and added that, after oil, this is the country's most important natural resource.

"The new policy implemented by this government and the governance model for the sector are our commitment to improve the sector, but we need more efforts and to push forward the reforms," the minister said, inviting private individuals to invest.

"Angola is open for business, and we are committed to working together with the private sector for the development of the sector," the ruler concluded.

Angola is the world's third largest producer of rough diamonds in terms of value, and diamonds represent the country's second largest export, after oil.


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