Angola Reiterates Aim to Create Diamond Exchange

Saurimo — Angola's Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, reiterated Tuesday the country's goal to create a diamond exchange to boost the diamond market subsector and support the diversification of the national economy.

According to the minister, the project is aligned with the United Nations' sustainable development actions and goals, the African Mining Vision and African Vision 2063.

In the diamond cutting sector, the minister said, it is important to recognize the importance of continued improvement of internal capacities, strengthened infrastructure chain and increasing production volumes to attract investment.

The minister underlined the construction of a Diamond Development Centre in eastern Lunda Norte as a new development in this sector, having invited investors to embrace the business opportunity and to invest in diamond cutting factories and training of young people.

"In 2023 there was a poor performance in the global diamond industry, so we must be aware of these changes and work to guarantee authenticity and continue to add value to national rough and cut diamonds," the minister said.

The minister added that provisional measures have been created to encourage diamond cutting in Angola and to make it more attractive for investors.

"Our aim is to increase the quantity of diamonds cut in our country and guarantee their quality, so that we can compete effectively at regional level and also begin to make a mark on the international market," Azevedo said. JW/ASS/AMP

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