Angola Sets New Diamond Production Record with Over 14 Million Carats in 2024 as Mining Sector Expands
Angola has reached a historic milestone in its diamond industry, producing over 14 million carats in 2024—the highest in the nation’s history.
This achievement was announced by Diamantino Azevedo, Minister of Mineral Resources, Oil and Gas, during the launch of the International Mining Conference of Angola held last Thursday in Luanda.
“This milestone fulfills one of the key targets set at the beginning of President João Lourenço’s second term,” Azevedo said, according to a statement from the Ministry accessed by VerAngola.
Despite facing challenges such as declining global diamond prices and growing competition from synthetic diamonds, the minister highlighted the sector’s resilience.
“Even with these obstacles, we managed to reach a historic production record,” he said.
In addition to the diamond milestone, the minister spotlighted the beginning of copper production in Cuando Cubango—the first such effort in Angola since independence.
He also pointed to ongoing investments in new mining ventures, including niobium, and a steady rise in the production of marble, granite, iron ore, and manganese.
While gold production remains below expectations, Azevedo noted that several companies are in the prospecting phase, and the sector is expected to improve in the near future.
To maximize the value of its mineral wealth, Angola has implemented new regulations, including a ban on raw quartz exports to promote local processing.
“We already have a quartz processing plant in operation. This is critical for adding value and creating jobs,” the minister said.
The minister emphasized the wider economic benefits of mining, beyond headline production figures.
“Mining stimulates multiple sectors—from logistics to equipment sales and food services. We must recognize its role in creating indirect jobs and driving supply chains,” he stated.
He also affirmed the government’s preparedness to navigate price volatility while ensuring the sector’s continued growth.
The Chitotolo Mining Company is also on track for a strong year, projecting a production total of 320,000 carats of diamonds in 2024.
Operations Director Frazao Ndumba reported that the company has already extracted around 180,000 carats this year, with average monthly production ranging between 25,000 and 30,000 carats. Estimated revenue for the year is expected to exceed $180 million.
“We are confident we will meet our production goals by year-end,” said Ndumba in a statement to Angop.
“After nearly 30 years of operation, most of the prime reserves have been depleted. We’re now exploring marginal areas with lower grades, which makes maintaining production even more challenging,” he added.
Despite these difficulties, Ndumba emphasized the company’s commitment to maintaining high output levels and supporting local development.
“Chitotolo is dedicated to sustaining production, fulfilling its responsibilities to workers, and contributing to the province’s economic and social progress, as well as to the national budget through tax revenues,” he concluded.
