Angola’s firm raises $368.66m from sale of 2,647,215.12 carats diamonds

The Angola Ministry of Mineral Resources and Oil (Mirempet), have reported that in the first quarter of 2019, the National Diamond Trading Company (Sodiam) raised $ 368.66 million for the sale of 2,647,215.12 carats of diamonds.

According to the state-owned company, total sales were up by 31.5% over the same period in 2018, adding that the total average carat price was $ 139.26, representing an “increase 6.9% “compared to the same period of 2018.

In the second quarter of 2018, Sodiam, the company responsible for trading all diamond production in the country, collected revenues valued at $316 million.

Of this amount, $295 million (93%) came from industrial activity, while $21 million and 487 thousand (6 per cent) came from artisanal exploitation.

Diamonds traded in the second quarter of last year (2018) came mainly from the provinces of Lunda Sul (85 per cent) and Lunda Norte 15 per cent.

This commercialisation resulted from the production of two million, 315,719 carats, of which more than two million carats (92 per cent) came from industrial production and 169,270 carats (7 per cent) from artisanal production.

According to Angola Press Agency (Luanda), more than 1.9 million, representing 85 per cent of the volume, were of Kimberlitic origin and 330,049 carats (14.3%) of alluvial origin.

At the time, the total average price for the period stood at 136.69, and for industrial production the price was $ 137.45 and for artisanal production 126.94.

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