Angola’s Endiama projects 13.8 million increase in diamond by 2022

Endiama is working towards having its own production unit, and establish infrastructure that will facilitate an increase in diamond production
View of the building housing multinational diamond company, De Beers, and Angolan national diamond company, Endiama, in the city of Luanda on November 10, 2018, the capital of Angola. – Many buildings in the city centre are unfinished, as the city saw rapid development until 2014, but when the oil price dropped, a lot of building came to a halt . (Photo by Rodger BOSCH / AFP)

The inaugural competitive tender of Lulo diamonds under Angola’s new diamond marketing policy delivered an exceptional average price per carat of US$33,530 today.

The sale of exceptional diamonds was the first under the terms of Angola’s new diamond marketing policy.

Meanwhile Angola’s state-owned diamond firm Endiama projects an increase in production of diamonds to 13.8 million carats in 2022 compared to an earlier forecast of 9.5 million carats .

According to Endiama’s director of geology, Kapingana Mandavela, Production in 2018 was 9.4 million carats.

Endiama intends to be among the world’s largest diamond producers by 2022, considering Angola’s potential for reserves.

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Earlier this year, the company’s Chief Executive Officer; José Manuel Augusto Ganga Júnior said the company in 2018 performed a diagnosis of the company in all mining projects and defined guidelines to increase internal operating conditions and profitability.

He also admitted that the company’s liabilities are “still high”, noting, however, that it has declined significantly since 2016, currently standing at 524 million dollars (455 million euros). A debt Jose says will be paid in the medium and long term.

Planning to sell more, Endiama is working towards having its own production unit, and establish infrastructure that will facilitate an increase in diamond production from eight million of carats per year to 14 million in 2022

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