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Diamond sales increase by 35 pct in Angola


Diamond sales increase by 35 pct in Angola

Sales of Angola’s diamonds have increased year on year by nearly 35 percent in the first half of this year, exceeding US$573 million and 4.2 million carats, according to the General Tax Administration cited by Angolan daily newspaper Jornal de Angola.

In the first six months of 2014 Angola sold US$426 million of diamonds and produced 4.1 million carats.

In 2014, Angola produced 8.6 million carats of diamonds whose sale earned US$1.274 billion.

Three projects are underway in Angola to increase diamond production in the mid term: Tchiuzo, valued at just over US$200 million with guaranteed annual production of 2.5 million carats, Luaxe, estimated at US$1 billion with annual production of about 10 million carats and Kimangue, which will offer greater knowledge about the existence of diamond resources in Angola for subsequent production.

Angola is one of the world’s seven largest diamond producers.

Source: Macauhub

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