Angola plans to double diamond production by 2018

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The Chairman of the Board of Directors of Angolan national diamond company Endiama, Carlos Sumbula has said diamond production in Angola may double in the next three years.

In an interview with UN Radio in New York, Sumbula recalled that Angola produced 8.8 million carats of diamonds making the country the world’s third largest diamond producer.

In 2015, Angola’s revenue from diamond sales was US$1.1 billion against US$1.3 billion in 2014.

Sumbula also called for internationally concerted marketing to balance market prices and said negotiations were underway in this regard with the world’s largest diamond producers including South Africa, Australia and Botswana.

source: macauhub

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