The ongoing global financial crisis has led to the withholding of approximately one million carats of diamonds produced in Angola over recent months. José Manuel Ganga Júnior, President of the Board of Directors (PCA) of Endiama, reported this development on August 30th in Dundo, Lunda-Norte province.
When speaking at the opening of the semi-annual balance of diamond production in the country, the manager clarified that, at the moment, the sector is faced with price proposals that do not cover production operational costs.
“The situation we are going through is not good at all. We do not have regular buyers who can absorb the results we have been obtaining.
We have a significant part of our production in stock, because we are faced with prices that are offered to us that do not cover not even operational costs. We have just over one million carats retained”, said Endiama’s PCA.
