The National Diamond Company of Angola (ENDIAMA) disclosed a 2023 turnover of $1.5 billion, attributable to the production of over nine million carats.
The announcement came during a press conference in Luanda, where Ganga Júnior, the President of the Board of Directors, presented an overview of the year’s activities.
Ganga Júnior acknowledged a decrease in profit, citing investments in prospecting projects, reinforced mining activity, and challenges in diamond sales on the international market.
ENDIAMA’s net profit for 2023 was $28.7 million, marking a 72.5% decline from the $104.7 million reported in 2022.
The president highlighted a significant drop in the average price of a diamond carat, exceeding 50% compared to 2022, influencing the provisional results. He cautioned against expecting a net result above $30 million due to these challenges.
Despite facing obstacles, 54 prospecting projects were undertaken in the 2023 financial year, with 10 from primary sources (kimberlites) and 44 from secondary sources (alluvial).
Additionally, 24 projects were in production, divided into four primary and 20 secondary sources.
Looking ahead to 2024, ENDIAMA sets an ambitious goal of achieving a production of 14.6 million carats, aiming for revenues totaling $2.5 billion to achieve a gross revenue milestone. This target follows a challenging year where production activities generated 9.7 million carats.
