Angola produced 5.6 million carats of diamonds in the first half of 2024, marking a 36% increase compared to the 4.1 million carats recorded during the same period in 2023.
This data was shared in Luanda by Miguel Vemba, Director of Mining Operations and Shareholding Management at Endiama, during a presentation on diamond production and sales for the first half of the year.
The event, chaired by the Secretary of State for Mineral Resources, Jânio Corrêa Victor, highlighted the sector’s performance.
Despite the production increase, output fell short of the National Development Plan (PND) target, with 5.66 million carats recovered against a planned 6.98 million, a 20% shortfall.
Sales during this period amounted to 3.18 million carats at an average price of $191 per carat, generating gross revenues of approximately $608.84 million.
Angola remains the fourth-largest producer of rough diamonds globally, with industrial production of 9.8 million carats in 2023 from the provinces of Lunda-Norte, Lunda-Sul, Bié, Cuanza-Sul, and Malanje.
Sustainability and Production Challenges
Flávio Francisco, Executive Administrator for Engineering and Technical Maintenance at Sociedade Mineira do Luele, emphasized efforts to stabilize the treatment plant to enhance production sustainability.
The target is to process 8,300 tons per day, aiming to treat 11 million cubic meters of mineral mass by the end of 2024, recovering 6.5 million carats of diamonds.
However, Catoca Mining Company faced a 34% drop in production revenue, generating only $100 million in the first half of the year.
Director of Planning and Control, Fidel Manassa, attributed this decline to technical challenges, including the hardness of the mineral and the aging treatment plants, which are over 20 years old.
Manassa suggested modernizing the treatment system, including the purchase of two new mills, to enhance recovery capacity.
Addressing Sector Volatility
Secretary of State for Mineral Resources, Jânio Corrêa Victor, called for the optimization of mining activities to counteract declining revenues in the sector.
He acknowledged the volatility of the international diamond market due to global economic slowdowns, reduced demand, excess stock, and the growing popularity of synthetic diamonds.
Victor emphasized Angola’s continued efforts to establish itself as a leading global producer and exporter of rough natural diamonds.
This includes intensified prospecting, exploration activities, and improving geological knowledge. He also noted the diamond subsector’s crucial role in Angola’s economic and social development, serving as a significant source of revenue for the state.
The event was recognized as an essential platform for exchanging ideas, experiences, and best practices, contributing to the sustainable and responsible development of Angola’s diamond sector.
