Dundo — Angola's Tax revenues from diamond industry is expected to double from US$2 billion to US$4 billion over the next two years, taking in account the increase in production levels and invoicing, through the emergence and entry into operation of new mines.
The Board of Directors Chief Executive of the Angolan public diamond company (ENDIAMA EP), Ganga Júnior on Wednesday stated that the enterprise is
committed to ensuring that the diamond industry occupies a prominent position in the country's economic structure.
"The weight of the diamond industry in the national economy is still very small, but there is considerable commitment to a substantial improvement in the contribution in terms of the trade balance and in the Public Investment Programs", he stressed.
On the other hand, Ganga Júnior informed that it was also the intention of the sector to reach 20 percent of the internal cutting of diamonds, a goal that could contribute to the reduction of costs.
The country currently has seven cutting factories and in the next two years will build a diamond hub in Dundo, Lunda Norte province, likewise the one in Saurimo (Lunda Sul).
The National Diamond Company of Angola expects to increase its production to 12 million carats in 2023, surpassing last year's result of about nine million carats.
