Angolan state to net over US$1 billion from diamond sector this year

23 April 2007

Luanda, Angola, 23 April – The Angolan state will collect US$1.1 billion from the sale of diamonds and tax revenues this year from production of the precious stones, a Luanda government minister has said.

Mining Minister Manuel Africano said Friday that state revenues diamond sales this year were expected to be US$1 billion, with as much as an extra US$150 million coming from taxes on diamond production in the country.

Africano, speaking on a visit to state newspaper Jornal de Angola, added that his ministry will present new legislation on diamond trading to the Luanda government soon, including recommendations on unlicensed mining by individual prospectors, known as “garimpeiros”. (macauhub)