Diamonds mined in Angola will be used to produce jewellery

5 February 2015

Jewellery made from diamonds mined in Angola will be progressively manufactured in the country itself, the chairman of Angola’s national diamond company Endiama, Antonio Carlos Sumbula said recently.

“Initially, jewellery will be manufactured abroad but then, little by little, it will be done in Angola,” he said during the reopening of the Angola Polishing Diamonds factory.

Sumbula reported that the factory will produce jewellery with international partners, although he did not specify who, and added that, given that making jewellery is different from polishing, a centre will be set up at the factory to train Angolan technicians.

The chairman of Endiama also said the process of building more polishing factories would begin, in addition to establishing international and national partnerships to manufacture an increasing amount of jewellery.

Sumbula said there was already interest from some French companies to sell the jewellery produced in Angola, particularly in Monaco and Cannes, and added that government guidelines had already been drawn up for this purpose.

The Angola Polishing Diamonds factory, owned by Sociedade de Comercialização de Diamantes de Angola (Sodiam), a subsidiary of state company Endiama, represented an initial investment of US$10 million, and when it was established in 2005 involved a partnership with foreign investors.

Angola is the third largest producer of diamonds in Africa by volume and value, with a production of eight million carats, only surpassed by Botswana, the world’s largest producer with about 38 million carats, and the Democratic Republic of Congo, with 30 million carats.

Figures point to production of around 8.3 million carats, with gross revenues of around US$1.1 billion per year. (macauhub/AO)