The Government recently concluded an auction, gathering $18.2 million from the sale of eight diamonds. Attended by 25 companies from key diamond markets worldwide, the event saw special productions from various mining companies like Lulo, Somiluana, Chitotolo, and Uari.
Originally set to tender 20 stones, the auction featured only 12, with Sociedade Mineira do Uari withdrawing eight stones from the bid.
These diamonds, totaling 646.52 carats, were evaluated during sessions at Sodiam’s Luanda facilities. Eventually, eight stones were sold, generating substantial revenue.
Sodiam noted that while four stones were withdrawn due to low offers compared to reserve prices, their potential sale could have added $1.6 million to the earnings.
Eugénio Bravo da Rosa, Chairman of Sodiam’s Board of Directors, highlighted the global diamond industry’s gradual recovery, even as the Angolan diamond sector faces challenges.
Ganga Júnior, Chairman of Endiama’s Board of Directors, had previously projected a challenging year for the Angolan diamond sector due to various market closures.
Despite ongoing difficulties, the recent auction showcased slight improvements in average prices per carat for certain high-value diamond categories, signaling a potential positive shift in market sentiment.
