Luanda: Angola may become the world's largest diamond producer in the near future, Endiama's Executive Director, Laureano Paulo, stated Thursday in Luanda. Angola is currently the second largest diamond producer in Africa and the fourth largest globally, trailing behind Russia, Botswana, and Canada.
According to Angola Press News Agency, Paulo delivered this optimistic outlook during his speech on "The Future of the Diamond Subsector: Reserves, Innovation, and Added Value" at Expo Catoca 30 Years in Luanda. He emphasized that Angola is the only country with proven reserves and new prospects for kimberlites ready to enter production, positioning it as a potential global leader in the diamond industry.
Paulo highlighted the country's ambition to become a global benchmark, not only in diamond extraction but also in transformation and social and economic impact. Projections for 2025 suggest that Angola could generate revenues of up to US$2.13 billion, with production reaching 17 million carats by 2027, supported by mines like Luele and new kimberlite operations.
He pointed out that of the 50 diamond projects in Angola, only 24 are currently operational, including four kimberlites and over 20 alluvial deposits. Paulo underscored the importance of international partnerships, such as those with De Beers, and investments in diamond cutting facilities, like the Saurimo Development Hub, to add value domestically.
Paulo stressed the need to move beyond the export of rough diamonds by developing the national jewelry industry. Additionally, Endiama announced plans for investments in a gold refinery and agricultural projects through Endiagro, aimed at job creation and economic diversification in the Lunda provinces. Angola's diamond reserves are estimated at over 800 million carats, sufficient for exploitation over the next 50 years.
