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Angola to cut 20% of diamond production

Angola wants to cut 20% of the diamond production, minister of Mineral Resources, Oil and Gas, Diamantino de Azevedo, has announced.

The minister announced plans to expand cutting factories in the areas of exploration of the strategic mineral.

He said that 99.5 percent of rough diamonds in Angola are exported, a process that, according to him, attracts less revenue.

Speaking during a meeting with mining operators in Dundo, eastern Lunda Norte province, the minister announced the intention to achieve this goal of cutting the necessary quantity of diamond in the medium and long terms.

Also read: How Angola is planning to revive its oil industry, jumpstart economy

In the last four years, three polishing factories have been installed, properly in Luanda.

The official also announced plans to inaugurate diamond development hub this year in Saurimo, Lunda Sul, with the capacity for 26 polishing factories, through private investments.

He also announced the construction, still this year, of a polishing factory in the municipality of Chitato, in Lunda Norte, through a private investment of US$20M.

Source: Further Africa

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