[2019-02-12] Second diamond cutting plant plant opens in Angola

Source: Macauhub

Angolan businesspeople have partnered Angola’s national diamond trading company Sodiam to invest in a diamond cutting plant, which will be inaugurated on Tuesday in Talatona, Luanda, the local press reported.

Stone Polished Diamond (SPD), whose facilities cover 400 square metres, involves an investment of over US$5 million, 10% of which was injected by Sodiam itself.

The company said in a statement that it will cut diamonds weighing between three and 10 carats and some special stones, and in the first year of operation is expected to process 2,000 carats per month.

This new plant joins Angola Polishing Diamond, inaugurated in Luanda in 2015, with an annual capacity to process diamonds worth around US$240 million, in a partnership between Sodiam and LLD Diamonds of Israeli group Lev Leviev, the world’s largest diamond cutter.

Also this year a diamond cutting and polishing plant is being installed in Saurimo (Lunda Sul province), as part of Sodiam’s strategic plan for the f2018-2022 period.