Luanda, March 28, 2025 (Lusa) - Angola exported around 10.2 million carats of diamonds in 2024 and earned approximately $1.5 billion (€1.3 billion), a drop of almost 3% compared to 2023, the authorities announced on Friday.
In 2024, Angola "recovered" just over 14 million carats, or approximately 96% of the target set in the National Development Plan (2023-2027) for that year, estimated at 14.6 million carats, the Secretary of State for Mineral Resources, Jânio Correia Vítor, said on Friday.
During this period around 10.2 million carats were exported, valued at almost $1.5 billion, a reduction of nearly 3% compared to 2023, according to data from the Angolan National Diamond Trading Company (SODIAM).
The volatility of the international markets, "associated with the slowdown in the world economy," contributed to the reduction in prices due to weak demand for natural diamonds and increased production of synthetic diamonds, resulting in an increase in diamond stocks on the markets, explained Jânio Correia Vítor.
He was speaking today in Luanda during a ceremony to present the achievements of the diamond subsector in Angola in 2024 and the projections for 2025.
According to SODIAM, the reduction in the average price of diamonds caused gross revenue to fall in absolute terms by $45.2 million (€39 million) compared to 2023.
The public company says that the country will collect $1.48 billion from diamond exports in 2024, a drop of 2.95% compared to the $1.53 billion collected in 2023.
The Angolan National Diamond Company (ENDIAMA) said on the occasion that for the first half of 2025, it expects to produce 7.4 million carats of diamonds, 6.4 million carats to be recovered from primary deposits, and 907,000 carats to be recovered from secondary deposits.
According to data presented at the ceremony, ENDIAMA made investments of $217 million (€201 million) in 2024, with a 43% decrease in realised investments compared to its plan and a 57% execution of investments.
Jânio Correia Vítor also assured that Angola is continuing its efforts "to establish itself as one of the main producers and exporters" of rough natural diamonds in the world, with the "intensification of prospecting and exploration activities, as well as increasing the country's geological knowledge".
The United Arab Emirates (78%), Belgium (19.8%) and Hong Kong (1.8%) were the main destinations for Angolan diamonds in 2024.
DAS/ADB // ADB.
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