Endiama, Angola’s state-owned diamond company, has projected a production target of 15.1 million carats of diamonds for 2025, surpassing the 14.6 million carats forecasted for 2024.
These projections were announced during the 10th Advisory Council meeting of the Ministry of Mineral Resources, Oil, and Gas, held under the theme: “Mineral Resources, Oil and Gas: Challenges and Solutions.”
In the past year, Endiama focused on optimizing production processes and enhancing geological and mining research, especially in the Luachima and Xamacanda projects.
Currently, 54 projects are in the prospecting phase, with nine in advanced evaluation stages. A total of $42.3 million has been invested in geological and mining research activities this year.
Of the ongoing projects, 25 are engaged in active prospecting. However, modernization efforts and equipment shortages caused production deficits totaling approximately 2 million carats, attributed to:
- Outdated treatment plants.
- Limited earth-moving equipment.
- Mechanical failures and labor shortages.
- Project restructuring.
2025 Outlook
For 2025, Endiama expects:
- 15.1 million carats in production
- An average price of $150 per carat
- Gross revenue of $2.27 billion
Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, highlighted the difficulties facing the diamond industry, including declining prices, competition from synthetic diamonds, and sanctions on Russian diamonds.
He emphasized the need for continued resource exploration, cost optimization, and improving legal frameworks to sustain production goals amidst these challenges.
Angola is also ramping up its local diamond cutting capacity, planning 19 new factories by 2026, with five expected to be completed by March 2025.
The goal is to achieve a rough diamond cutting capacity of 21,326 carats annually by 2027. Progress on these facilities, as of November 30, 2024, is at 54%.
Endiama’s ambitious targets reflect Angola’s broader efforts to strengthen its diamond sector while navigating market challenges.
These initiatives are poised to enhance production efficiency, boost revenues, and position Angola as a significant player in the global diamond market.
