Ver Angola

Raw Materials

Seventh rough diamond auction yields 22.3 million dollars

The National Diamond Trading Company of Angola (Sodiam) announced that it closed, this Wednesday, what was the seventh auction of rough diamonds, having raised 22.3 million dollars.

: Ampe Rogério/Lusa
Ampe Rogério/Lusa  

The company, in a statement sent to VerAngola, informs that "an auction with special diamond productions from Sociedades Mineiras do Lulo, Kaixepa, Somiluana, Catoca and Luele" was closed this Wednesday.

Regarding the amount raised, Sodiam states that "the total net value raised from the bidding was 22.3 million dollars with the sale of 1,329.89 carats".

The range of special stones that were up for bidding included, according to the note, one from Sociedade Mineira do Somiluana that yielded around 1.53 million dollars; seven from Sociedade Mineira do Lulo that generated 15.7 million dollars; 18 from Sociedade Mineira do Kaixepa which yielded 2.04 million dollars; seven from Sociedade Mineira do Catoca which generated 2.07 million dollars and three from Sociedade Mineira do Luele which generated 966.9 thousand dollars.

"37 companies from the main diamond markets in the world participated in the auction", the statement said.

According to the company, the aforementioned auction, "whose evaluation sessions took place" between the 3rd and 10th of October, at Sodiam's facilities, "included the presentation of proposals, until 10:00 am" on Wednesday, "submitted electronically on the platform online."

Quoted in the statement, Sodiam's PCA, Eugénio Bravo da Rosa said that "despite the adverse circumstances that the global diamond industry has been going through since the last quarter of 2022, derived from a set of technical factors and macroeconomic and political-social variables, it was, however, possible to raise revenue above producers' expectations, which demonstrates that there is still an acceptable demand on the international market for certain categories of stones".

Remember that at the end of September, the company announced the holding of this auction. At the time, Sodiam reported that it would auction 38 special diamond stones, in an auction organized by Trans Atlantic Gem Sales.


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