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Raw Materials

Sociedade Mineira de Catoca estimates a 7.1 percent increase in diamond production next year

Next year, Sociedade Mineira de Catoca estimates an increase of around 7.1 percent, compared to 2021, in its diamond production. The forecast is expressed in a report that integrates the company's production plans for the next three years (2022-2024) and the budget for the fiscal year for 2022.


According to the document, recently approved by the shareholders, the company foresees the recovery of 5.6 million carats by the end of the year.

However, the report, cited by Jornal de Angola, estimates that invoicing in 2022 will decrease in the order of around five percent, justified by the possible reduction in the price of diamonds on the international market.

This year, due to a decrease in the supply of diamonds on the market, the price has risen to around $122.5 per carat. However, with normalization next year, diamonds from this mine are expected to be sold at an average price of $110 per carat.

Cited by Jornal de Angola, the chairman of the board of directors, Benedito Paulo Manuel, said that despite the obstacles generated by the covid-19 pandemic, they managed to maintain production levels as well as profitability, a fact that is seen with pride and which encourages the company to move forward.

The society is considered the fourth largest mine in the world, employing more than 5000 people.

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