Angola’s diamond sales bring in revenues of US$232.8 million in the second quarter

7 August 2019

Angola’s national diamond trading company Sodiam posted gross revenue of US$232.8 million in the second quarter by selling 1.5 million carats of diamonds at an average price of US$ 155.3 per carat, the company said.

Revenue in the second quarter fell by US$135.8 million compared to the first quarter, because Sociedade Mineira do Catoca, the largest Angolan producer with an 80% share, did not sell its April lot of diamonds.

Sodiam posted gross revenue of US$368.66 million in the first quarter from the sale of 2.647 million carats, and year-to-date revenues reached US$601.46 million from the sale of 4.1 million carats.

The Angolan provinces of Lunda Sul with 89% and Lunda Norte with 11% lead the marketed production between April and June 2019, with 1.332 million carats obtained from kymberlite deposits and 165,289 carats from alluvial deposits. (Macauhub)