Angola opens another diamond cutting factory

3 September 2019

The third diamond cutting factory in Angola, which opened on Monday, has a capacity to process 5,000 carats per month and required an investment of US$5 million, the operating company said.

The owner of Pedra Rubra, Hélder Milagre, said the company currently has five jewellery stores in Luanda and hopes to produce, in the short term, enough jewels to meet domestic market demand.

Milagre, quoted by the Angop news agency, said he had also asked commercial banks to make foreign exchange facilities easier, given that rough diamonds are purchased in foreign currency and sales in Angola (jewellery) are made in kwanzas.

The Minister of Mineral Resources and Oil inaugurated the industrial enterprise and, in his address, promised to address the concerns raised by the company.

“We are following one of the government’s recommendations to look at the production, marketing and internal processing of diamonds,” said Diamantino Azevedo, who spoke about reforms in the mining sub-sector and noted that “we will have a model similar to what we have for oils.”

The Pedra Rubra diamond cutting facility (located in Maianga, Luanda) joins Stone Polished Diamond, inaugurated in February this year and Angola Polished Diamond, both located in Talatona. (Macauhub)