Poor promotion is leading to people around the world buying fewer diamonds, said the chairman of Angola’s national diamond company Endiama Tuesday in the city of Saurimo in the Angolan province of Lunda Sul.
Carlos Sumbula, who had received British members of parliament (MPs) who paid a visit to the Sociedade Mineira da Catoca (Catoca Mining Company), called for diamond producers to unite in order to streamline the promotional campaigns for precious stones, “so that people feel motivated to buy.”
The chairman of Endiama also mentioned the Luaxe project, which requires an estimated investment of US$1 billion dollars for an annual production of 10 million carats of diamonds a year, noting that condition were being established for the project to be launched.
“We formed teams in Angola and Russia who are working to meet the guidelines of the Angola government, in particular as regards the entry into operation of this major project, which has changed the global network of kimberlites,” he said, cited by Angolan news agency Angop.
The Catoca Mining Society is a diamond mining, exploration, recovery and marketing company, whichw as set up to explore the first Angolan kimberlite site.
In addition to diamond mining in the provinces of Lunda Norte and Lunda Sul, studies indicate the existence of diamonds in the provinces of Moxico, Bié, Malanje, Kwanza Sul and Kuando Kubango. (macauhub/AO)