[2020-02-17] Angola makes US$1299 million from diamond sales in 2019

Source: Macauhub

In 2019 Angola sold just over 9.44 million carats of diamonds, which provided income of US$1.299 billion, said in Luanda the national diamond distribution company Sodiam.

The Secretary of State for Geology and Mines, Jânio Correia Victor, presenting figures for the fourth quarter and for 2019, said that last year there was an annual increase of 12.3% in production and 6.2% in revenue.

Referring to both production and sales with “satisfactory results”, the Secretary of State stressed that revenue grew less than expected due to the fact that the prices on international markets have registered a decline of more or less 10%.

In the fourth quarter of 2019, Angolan diamond production reached 3.0 million carats, which sold at an average price of US$136.40 per carat, providing revenue of US$409.77 million.

Production in the last quarter of the year represented an increase of 7.5% year-on-year terms but revenues had a drop of 10.2%, also year on year, due to the fall in prices.

Correia Victor for 2020 expected production of 14 million carats, “in order to meet the targets set out in the National Development Plan (NDP 2018-2022).”