Angolan diamond sales rise 20 pct in June

28 July 2014

The sale of Angolan diamonds in June totalled US$117 million , which was a rise of 20 percent against May, according to figures form Angola’s Geology and Mining Ministry.

The ministry said Angola sold “over 780,000 carats” or an additional 156,000 carats compared to May.

According to the ministry the rise in sales was the result of a 32 percent increase in diamond production at the Catoca mines, which is considered to be one of the world’s largest diamond mines.

The rise in production led to a drop in prices from US$156 per carat in May to US$150 in June.

Angolan diamond production is valued at around 8.3 million carats per year, or gross income of around US$1.1 billion.

The Angolan government plans to increase diamond production by 5 percent per year until 2015. (macauhub/AO)