According to a statement from Sodiam, nine special rough diamond stones from Sociedades Mineiras do Lulo, Kaixepa and Sangamina were auctioned this Wednesday.
The evaluation sessions took place between Monday and Wednesday, at the Sodiam E.P facilities in Luanda, and bids were submitted electronically, with 18 companies participating in the auction, representing the main diamond markets and centers in the world.
According to Sodiam's executive director, José Silva, cited in the note, “this auction comes at the culmination of a negative year for the entire global diamond industry, in which prices continue to trend downward due to a sharp drop in demand and high levels of stock in the main markets”.
José Silva highlighted that Angolan mining companies have opted to sell special stones through auctions, in order to take greater advantage of competitive offers and thus be able to face the current pressure on their treasury.
“It is expected that by 2025 there will be some slight recovery in demand, given the prospects for the recovery of the American economy that has been presented in recent weeks”, he highlighted.
In October, the chairman of the board of directors of the National Diamond Company of Angola (Endiama), José Ganga Júnior, said that the Angolan diamond sector continues to go through a crisis in commercializing its diamonds, with a reserve of more than three million carats waiting for “better days”.
