Angolan diamond company Endiama produces more but income falls

16 January 2017

Angolan national diamond company Endiama recorded diamond production of over 9.0 million carats, almost identical to the target set by the Ministry of Planning and Regional Development, said the chairman of the state company.

Antonio Carlos Sumbula, who spoke in Lunda on the 36th anniversary of the national diamond dealer, said the company’s turnover last year was US$1.079 billion, US$130 million less than in 2015 “because higher production led to lower prices per carat.”

The chairman of Endiama said he had received guidance to reverse this situation, so in 2017 the company will seek to produce fewer diamonds in order to raise the price in the main markets.

However, Sumbula said the company had carried out flights in some regions of Angola “in order to discover more diamond reserves,” and added that this year a small mining operating would begin “called CAT 42, a small mine near Catoca.”

The provincial governor of Lunda Sul, Cândida Narciso, said that artisanal cooperatives had contributed to an increase in employment in the region and had managed to integrate all illegal diamond miners.

Endiama was founded on 15 January, 1981. (macauhub)