Luanda: Angola traded 8.18 million carats of rough diamonds in the first half of this year, valued at 790.43 million US dollars, at an average price of 96.7 dollars per carat, marking a 14% reduction compared to the same period last year, the Secretary of State for Mineral Resources, JSnio Correia Victor, announced on Friday. Speaking at the presentation of the balance of the country’s diamond activity in Luanda, he revealed that Angola achieved a production of 6.8 million carats, reflecting a 23.2% increase compared to the same timeframe last year.
According to Angola Press News Agency, Victor highlighted that the United Arab Emirates, Belgium, and Hong Kong are among the primary destinations for Angolan diamond exports, accounting for 80.8%, 16%, and 2.86% respectively. He further noted that diamond production from January to September reached 10.7 million carats, achieving 72.3% of the target of 14.8 million carats set in the National Development Plan for the current fiscal year.
The international diamond market, Victor pointed out, is facing a crisis driven by the rapid expansion of synthetic diamonds, whose commercialization grew by approximately 84% in 2025 in the United States, causing a dramatic drop in prices by 90 to 95% over recent years. This shift has reduced the demand for natural diamonds and increased polished diamond stocks, leading to a decrease in the polishing industry’s operations in India to around 60% of its capacity.
Victor also mentioned that the rise in synthetic diamond demand, global economic uncertainties, and heavy tariffs imposed by the United States, along with the stagnation of the Chinese market since the pandemic, are significant challenges impacting the entire value chain of natural diamonds. Despite these uncertainties, the national diamond sector remains a crucial pillar of Angola’s economy, demonstrating solidity and reliability.
He emphasized that the performance of Angola’s diamond industry mirrors the operational stability of major mining units like Catoca and Luele, reinforcing the government’s commitment to fostering a sustainable mining sector that can propel the nation’s economic and social development. Regarding future marketing prospects, Victor projected an encouraging scenario, noting that global rough diamond production is expected to remain below 100 million carats this year, breaking the growth trend observed over the past decade.
Victor concluded by expressing confidence in Angola’s strategic position in the international diamond market, citing its consolidation as a source of quality rough diamonds. High stocks of polished diamonds and moderate consumption of diamond jewelry in the United States, influenced by economic uncertainty and increased import tariffs on Indian jewelry, are expected to shape the market dynamics in the coming year.
