Angolan diamond company Endiama intends to find new diamond reserves

16 January 2012

Luanda, Angola, 16 Jan – Angolan diamond company Endiama is focused on discovering new diamond reserves, the company’s chairman, Carlos Antonio Sumbula said in Luanda.

During a meeting to commemorate the company’s 31st anniversary, Sumbula said that in 2011 Endiama had sold 8.2 million carats of diamonds with revenue of US$1.16 billion due to an upturn in international diamond prices which stood at around US$139 per carat.

In 2010, Angola’s diamond production totalled 8.36 million carats, but revenues were just US$987 million, which was US$118 per carat.

As well as aiming to find new reserves, Sumbula noted that Endiama would continue to promote artisanal production alongside the Ministry for Geology, Mining and Industry. (macauhub)