Ver Angola

Raw Materials

Endiama PCA: “We expect the market to recover in 2021”

Ganga Júnior, current chairman of the Diamond Board of Directors, expressed confidence in the recovery of the diamond market next year.

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"For 2021 we expect a recovery of the market, and we expect to reach production of 9.2 or 9.3 million carats, with a turnover of around 1.2 billion dollars", he said, having said, however, that the projection could be adjusted according to circumstances of the moment.

In 2019, the national diamond sector produced nine million, 121 thousand and 515.07 carats, exploited by 12 mining companies.

In a note to which VerAngola had access, the official says that the market faces constraints (stock of diamonds resulting from weak demand, for example) as a result of the covid-19 pandemic, but is beginning to show signs of gradual improvement.

Ganga Júnior, who was one of the panelists invited to participate in the "Angola Diamond E-Conference 2020" - which took place online under the motto 'Leading the world of diamonds in the new era' - emphasized that Endiama has an important role in contributing to the development of Angola's economic and social life, and that the company seeks to make diamonds a vehicle to stimulate other segments of the country's productive life.

The conference resulted from a partnership between the Ministry of Mineral Resources, Oil and Gas and the international media group The New Jeweler.

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