SODIAM Raises $16.9 Million in 15th Electronic Rough Diamond Auction
The Angolan National Diamond Trading Company (SODIAM) announced the successful sale of 36 special rough diamonds, generating a total net value of US$16.9 million at its 15th electronic auction held on Wednesday.
The diamonds were produced by leading mining companies, including SOMILUANA, Lulo, Kaixepa, Mussende, Chitotolo, Calonda, and Catoca, and comprised a total of 1,529.8 carats.
The auction results exceeded expectations by 9.14%, reflecting strong performance for select stones despite challenging market conditions.
“While the overall market is experiencing a negative trend in demand and prices, the unique characteristics of some of the stones on sale contributed to a better-than-expected result,” said SODIAM Executive Director Jose Silva.
SODIAM noted that its electronic auction format has gained increasing confidence among both mining companies and buyers, highlighting the transparency and reliability of the process.
The format continues to play a key role in promoting trust and efficiency in Angola’s diamond trading sector.
The success of this auction reinforces Angola’s position as a significant player in the global diamond market, while providing a secure and transparent channel for the sale of high-quality rough stones.
