Angola: Diamond Industry Presents Second Quarter Performance

Luanda — The Ministry of Mineral Resources and Oil (Mirempet) will report next Tuesday in Luanda on the achievements of the second quarter of the diamond sector and the third quarter Outlook market, according to a note that reached Angop on Monday.

In the first quarter of 2019, Angola's National Diamond Trading Company (Sodiam) raised US $ 368.66 million for the sale of 2,647,215.12 carats of diamonds.

According to the state-owned company, total sales were up by 31.5% over the same period in 2018, adding that the total average carat price was $ 139.26, representing an "increase 6.9% "compared to the same period of 2018.

In the second quarter of 2018, Sodiam, the company responsible for trading all diamond production in the country, collected revenues valued at USD 316 million.

Of this amount, US $ 295 million (93%) came from industrial activity, while US $ 21 million and 487 thousand (6 percent) came from artisanal exploitation.

Diamonds traded in the second quarter of last year (2018) came mainly from the provinces of Lunda Sul (85 percent) and Lunda Norte 15 percent.

This commercialization resulted from the production of two million, 315,719 carats, of which more than two million carats (92 percent) came from industrial production and 169,270 carats (7 percent) from artisanal production.

More than 1.9 million, representing 85 per cent of the volume, were of Kimberlitic origin and 330,049 carats (14.3%) of alluvial origin.

At the time, the total average price for the period stood at 136.69, and for industrial production the price was $ 137.45 and for artisanal production 126.94.

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