Angola exports cut diamonds to United Arab Emirates

3 August 2016

The state-held company Angola Polishing Diamonds exported 4,462 carats of cut diamonds to the United Arab Emirates last June, invoicing US$3.098 million at an average price of US$694.5 per carat, informs the Ministry of Geology and Mines in Luanda.

June diamond production in Angola amounted to 753,000 carats, with participation of eight of the twelve operational mines, bringing in US$75.35 million at an average price of US$100 per carat.

The Catoca mine accounted for 620,500 carats, Camatue 41,200 carats, Cuango 39,700, Chitotolo 20,000, Calonda 12,800, Somiluana 9,000, Luo 8,700 and Lulo 808.

Compared to May 2016, when 736,700 carats worth US$74.9 million were produced at an average price of US$101 per carat, respective increases in quantity and value of 2.23 percent and 0.51 percent were recorded.

Between industrial tax and royalties paid by diamond companies, the activity brought in tax revenue of 934.1 million kwanzas (US$5.6 million), up year-on-year though down 11 percent over May. (Macauhub/AO)