Angola | Cut diamonds exported to United Arab Emirates

A diamond handler uses tweezers to sort through a large collection of rough diamonds on a sorting table

The state-held company Angola Polishing Diamonds exported 4,462 carats of cut diamonds to the United Arab Emirates last June, invoicing about USD3.1 million at an average price of $694.5 per carat, informed the Ministry of Geology and Mines in Luanda.
June diamond production in Angola amounted to 753,000 carats, with participation of eight of the twelve operational mines, bringing in $75.35 million at an average price of $100 per carat.
According to a statement late last month from the Ministry, production increased 2.28 percent and sales increased 5.35 percent compared to May. The increase in volume was due to the fact that production at the Catoca mine registered a slight increase of 0.82 percent compared to the same period of 2015.
The Catoca mine accounted for 620,500 carats, Camatue 41,200 carats, Cuango 39,700, Chitotolo 20,000, Calonda 12,800, Somiluana 9,000, Luo 8,700 and Lulo 808.
Compared to May 2016, when 736,700 carats worth $74.9 million were produced at an average price of $101 per carat, respective increases in quantity and value of 2.23 percent and 0.51 percent were recorded.
Between industrial tax and royalties paid by diamond companies, the activity brought in tax revenue of 934.1 million kwanzas ($5.6 million), up year-on-­year though down 11 percent over May.
Since Angola’s independence, oil and diamonds have been the country’s most important resource and export, accounting for as much as 60 percent of its economy according to The Economist. Today, Angola ranks in the worldwide top 10 for diamond production. MDT/Macauhub