Angola: Diamond production rises with international cooperation

6 March 2008

Toronto, Canada, 6 March – Angola’s diamond production has risen over the last few years due to cooperation between state diamond company, Endiama and international investors, one of the company’s directors said Tuesday in Toronto.

Speaking on the theme of “Investing with Endiama in the Angolan diamond industry,” during the ninth annual meeting of MINE Africa, which is taking place in Toronto organized by the South Africa/Canada Chamber of Commerce, the financial and human resources director of Endiama, Carlos Lisboa, said that production in 2007 was 9 million carats, which led to revenues of US$1.2 billion.

Due to the dynamics and new demands of the world diamond market, he said, Endiama had to open itself up to international cooperation by establishing partnerships to set up mining companies and subsidiaries, which are now the bases for prospecting and mining in Angola.

Of the international investors operating in Angola, Lisboa mentioned Alrosa, Odebrecht, De Beers, BHP Biliton, Escom Mining, Daumont, firms which are involved in over 47 diamond prospecting and mining projects.

Cited by Angolan news agency Angop, Lisboa said that Angola was open to foreign companies interested in investing in the diamond sector.

As part of sustainable development, he noted, the company was implementing projects in the area of biodiesel, whilst encouraging the creation of agricultural fields in all the mining projects in which it is involved.
Lisboa also announced that the International Angola Mining Fair (FIMA) would take place in November at the International Luanda Fair (FILDA) facilities, and that the World Diamond Summit was scheduled for 2009. (macauhub)