Diamond cutting factory to start operating in March in Angola

24 January 2014

Angola’s diamond cutting factory is potentially due to start operating in March in order to make use of the entire diamond value chain, Angola’s Minister for Geology and Mining, Francisco Queiroz said Thursday.

Speaking to Angolan news agency Angop, Queiroz said that the new factory was part of the National Development Programme and was intended to make use of the entire diamond value chain from prospecting and mining to cutting and jewellery.

“In Angola we are already at the level of cutting and we have some experience in terms of jewellery, but this is limited,” said the minister, who noted that at the factory there was a small unit to produce jewellery including rings, earrings and necklaces.

Queiroz added that this experimental business had seen good results as the items produced there had been well-accepted by the market.

The Minister also said that the diamond mining sector, which accounts for between 3 and 5 percent of Angola’s gross domestic product (GDP), in 2013 provided tax revenues of 9.5 billion kwanzas (US$97 million). (macauhub)