Angola experienced a notable surge in diamond production in 2023, reaching 9.772 million carats, marking a 12% increase compared to the previous year.
The Secretary of State for Mineral Resources, Jânio Correia Victor, credited this growth to industrial recovery, with Sociedade Mineira de Catoca contributing significantly to the sector’s success by accounting for 71% of total production.
While celebrating the growth, Victor highlighted that the total production fell short of the established forecast by approximately 21%. Despite this, Angola sold 9.396 million carats of rough diamonds in 2023, generating a gross value of $1.5 billion.
Victor expressed optimism about the diamond market’s stability, with prices showing signs of recovery. He projected a production forecast of over 10 million carats for the current year, aiming to position Angola among the world’s largest producers.
The entry into operation of Sociedade Mineira do Luele is expected to further boost diamond production, according to Victor.
Additionally, he emphasized the importance of social responsibility actions undertaken by mining companies, underscoring the diamond sector’s role in driving economic and social development in Angola.
However, despite the positive outlook, diamond export revenues experienced a 20% reduction due to lower prices on the international market.
Victor assured that the participation of the Russian company Alrosa in Sociedade Mineira de Catoca will not lead to a ban on Angolan diamond exports, stating that the issue is being addressed politically.
Victor reassured that discussions between the Angolan government and Alrosa are ongoing to safeguard the country’s interests.
He affirmed the government’s commitment to finding a political solution while continuing to prioritize Angola’s diamond market.
