Angola: Angola amongst world’s three biggest diamond producers

27 November 2008

Luanda, Angola, 27 Nov – Angola may become one of the world’s top three diamond producers by 2010, due to new investments and the opening up of new mining concessions, according to a study by consulting firm KPMG published in Angola.

According to the study, cited Wednesday by Angolan news agency Angop, the projection will be confirmed if in 2010 production volume reaches 19 million carats, exceeding the 7 million carats produced in 2006.

KPMG said that, with the aim of exporting a with greater added value, Endiama was creating a second diamond cutting and polishing unit, in Lunda-Sul, which is expected to produce the equivalent of US$20 million in cut diamonds.

According to the study, Endiama is also developing a project to set up a jewellery production unit.

The state company plans to train 400 jewellers, at a time when the country remains one of thw preferred targets of foreign direct investment (FDI) amongst sub-Saharan African countries.

Official figures point to strong prospects of increasing diamond production due to Endiama’s investments, which in the last few years has signed several international contracts. (macauhub)