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Angola: diamond revenue rises 26.43% in Q1 2021

Angola’s diamond sector reported an increase in revenue of US$220.3M in the first quarter of this year, saying that the increase owed to the sale of 1.1 million carats.

According to the diamond company, Endiama, there was an increase of 26.43 percent in contribution to the State Vault.

Endiama attributed the increase to the sale of an average price of US$186.96 per carat, compared to the same period in 2020, when revenues from the sale of 1.2 million carats stood at an average price of US$133.84.

In the first quarter of 2020, the sale totaled US$162.07M, with an increase of US$58.2M in the first quarter of this year, representing 26.43%.

The data were released Tuesday by the director for Trading of Endiama, José Carlos de Sousa, during the Seminar designed for Economic Journalists and Media Professionals in Diamonds.

Presenting the theme “National Economic Context of Diamond – International Diamond Market”, he also referred that in the first quarter of this year, there was a reduction of 32, 597 carats (-2.69%) in the sale, in comparison with the previous period.

The main markets for these diamonds are Antwerp (Belgium), Dubai, the United States of America, India and Hong Kong (China), in a sector with significant intervention by players such as De Beers, Airosa and Rio Tinto.

This year the sector predicts a production of 10.5 million carats, and 13.5 to 14 million carats / year for 2022.

Source: Furtherafrica

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