Angola sees record diamond production in 2015

31 December 2015

Angola in 2015 reached a new record in diamond production with the extraction of 8.837 million carats, which generated revenue of US$1.107 billion, said Wednesday in Luanda the minister of Geology and Mining.

Francisco Queirós, who gave a summary of the activities of the diamond and ornamental stone sub-sectors in 2015, said that although production had hit a record, revenues were lower than in 2014 due to a drop in the price of diamonds on international markets.

Revenues from the sale of diamonds in 2014 amounted to US$1.303 billion.

“However, we are pleased, because we have reached a very good production target, which amounted to 103 percent of the forecast in the revised National Development Plan,” the minister said.

The production of ornamental stone reached 39,500 cubic metres, which accounted for 71.4 percent of the target of 55,000 cubic metres projected in the development plan.

In this case, although production has been lower than expected, revenues reached US$8.3 million, against a forecast of US$6.6 million.

“In terms of production this year was very positive,” said Queirós, adding that production of aggregates, in particular for the construction sector, reached 4.5 million cubic metres.

In 2015, the Ministry of Geology and Mining issued 33 licenses, including 21 for the production of ornamental stone and aggregate, three for diamonds and one for gold which raised 120 million kwanzas in fees and charges for the state. (macauhub/AO)