According to a statement from the National Diamond Trading Company of Angola (Sodiam), the 44 stones auctioned on Wednesday came from the Somiluana, Lulo, Kaixepa, Tchegi, Chitotolo, Luele and Catoca mines, with 37 international companies participating in the auction.
The evaluation sessions took place between October 7th and 15th, at Sodiam's facilities, and bids were submitted electronically.
In the statement, the chairman of the Board of Directors of Sodiam, Eugénio Bravo da Rosa, says that "this auction allowed us to verify that, despite the unfavorable situation in the international market, where there is weak demand and high levels of stock in the main markets, the price for certain categories of Angolan productions proved to be somewhat satisfactory".
The head of Sodiam highlights, in the same press release, that the results of the auction will allow "a certain relief" to the pressure on the cash flow of mining companies and added that "the different agents in the industry will continue to work together to find measures to minimize impacts of this negative phase of the market".
Sodiam is the state-owned company responsible for selling Angolan diamonds produced in 18 kimberlite and alluvial mines.
