Luanda — The 15th auction of 36 special rough diamonds, which took place from Sept 30 to Oct 7, resulted in the raising of USD 16.88 million (USD 1 is worth 911 kwanzas), 9.14% more than the expected value.
According to a press release to which ANGOP had access on Wednesday (08), the event, an initiative by the Angolan National Diamond Trading Company (SODIAM), included diamonds produced by the mining companies Somiluana, Lulo, Kaixepa, Mussende, Chitotolo, Calonda, and Catoca, totaling 1,529.8 carats.
As per the figures, the total amount raised, $791,000 belongs to Somiluana, $7.08 million to Lulo, $726,700 to Kaixepa, $1.06 million to Mussende, $1.3 million to Chitotolo, $808,000 to Calonda, and $5.12 million to Catoca.
Bids were submitted electronically on the online platform www.transatlanticgemsales.com.
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In total, 38 companies participated in the process, representing the world's major diamond trading centers and markets.
Regarding the auction, SODIAM's executive director, José Silva, said that the global diamond market has been experiencing a negative trend in terms of demand and prices, influenced by factors external to the industry and the global economy.
"However, due to the specific nature of some of the stones on sale, the result was relatively better than expected. SODIAM and its partners in the diamond subsector continue to work to monitor price developments while minimizing the impact of market instability," he emphasized.
The current auction format, adopted under Presidential Decree No. 175/18 of July 27, has strengthened the confidence of mining companies and buyers through the transparency of the process.
Founded in 1999, SODIAM E.P. is the state-owned company responsible for the marketing and export of all Angolan diamond production.
The diamonds sold come from 27 kimberlite and alluvial diamonds, covering the entire spectrum of quality, size, model, clarity, and color.
ACC/GIZ/QCB/CF/jmc
