Angola’s diamond company, Endiama expects to produce 9 million carats this year

10 February 2011

Cape Town, South Africa, 10 Feb – Empresa Nacional de Diamantes de Angola (Endiama) this year expects to produce 9 million carats of diamonds and exceed 2010 revenues, of around 955 million euros, the company’s communications director said in Cape Town Wednesday.

“In 2011, we expect to increase production and also revenues, not only in that way, but also because the average price of diamonds is rising,” said António José Freitas, at the International Mining Fair in Cape Town, South Africa.

Freitas said that, “the average price of diamonds ended 2010 at US$111 per carat, and in January rose to US$134 per carat.”

Endiama, the world’s fifth largest diamond producer, re-launched production at three mines last year after the world market started to pick up following the world financial crisis.

In 2009 diamond prices per carat fell sharply to a low of US$91. (macauhub)