Angola’s Sodiam secures revenue of US$27.85 million with second international diamond auction

10 December 2019

Angolan diamond trading company Sodiam secured revenue of US$27.85 million with the sale of five lots of diamonds in an international public auction on 20 November 2004, the company said in a statement.

The auction, which ended on Friday, included four lots from Sociedade Mineira do Catoca consisting of two with 127.69 carats each, one made up of seven special stones with a total weight of 210.66 carats and four by two stones with 110.12 carats.

Sodiam said in the statement that international companies Venus Jewell and Da Trading bought all the lots at auction, which had attracted 29 companies from five countries, close to the 31 companies that took part in the first auction in January.

The first auction, held in January 2019 with 31 companies from eight countries, resulted in an income of approximately US$16.7 million with the sale of a batch of seven rough diamonds.

In December 2018 the Angolan government adopted the Technical Regulation on the Marketing of Rough Diamonds, which put an end to the monopoly on the sale of rough diamonds in the country. (macauhub)