International diamond expert Martin Rapaport emphasized on Thursday in Luanda the importance of Angola establishing a strong global brand for its diamonds and actively negotiating trade tariffs with the United States.
Speaking to Lusa about the potential for increased diamond exports to the U.S. — following the replacement of former Russian partner Alrosa with Taaden, a company owned by the Sovereign Fund of the Sultanate of Oman — Rapaport stated that “the issue of sanctions has been resolved.” However, he warned that trade tariffs remain a key concern.
“Currently, the U.S. tariff on Angolan diamonds stands at 10 percent, but it could rise to 32 percent by September unless proper negotiations take place,” Rapaport said.
A known supporter of Donald Trump’s trade policies aimed at reducing the U.S. trade deficit, he presented his vision for the future of the international diamond industry during a session in Luanda.
He argued that Angola, with patience and strategic diplomacy, can become a critical mineral supplier to the U.S., thereby opening the door to better trade terms.
Martin Rapaport is one of the most influential figures in the global diamond trade. He is the founder and chairman of the Rapaport Group, and in 1978 launched the Rapaport Diamond Report, the leading benchmark for pricing rough and polished diamonds.
He also created RapNet, the world’s largest online diamond trading platform.
While praising Angola’s progress in the diamond sector, Rapaport stressed that successful mining must be matched by effective branding and marketing efforts.
“The diamond business is not just about extraction — it’s about selling,” he said. “If Angola invests in marketing as it does in production, it will be a winner.”
Commenting on specific projects, Rapaport expressed a preference for the newer Luele mine over the older Catoca mine, citing environmental concerns.
“When I look at Catoca, I see a giant hole. We need to talk about land rehabilitation and what comes after.
Luele, on the other hand, is new — I like the use of solar power and hydroelectric energy. It’s a good story,” he remarked.
Luele, which began operations in 2023, is now Angola’s largest kimberlite deposit and part of a new chapter in the country’s diamond industry. Together, Catoca and Luele account for over 80 percent of Angola’s diamond output.
Rapaport recommended a phased branding strategy that begins with promoting Luele, positioning it for high-end markets such as the United States and the Persian Gulf.
“The U.S. relationship is important, but Angola should also focus on the Gulf markets, where there are no sanctions or tariffs,” he advised, adding that modern marketing channels — including social media, video content, and digital influencers — should be fully leveraged.
He also praised the Angolan government’s international outreach, including a recent U.S. visit by Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo.
“If you want to understand your customer, go and visit them,” Rapaport concluded.
