Luanda, June 27, 2025 (Lusa) - International diamond expert Martin Rapaport stated in Luanda on Thursday that Angola needs to establish a strong brand for its diamonds and negotiate tariffs with the United States of America (USA).
Responding to Lusa about the possibility of selling Angolan diamonds to the US after the replacement of Russia's Alrosa, Endiama's former partner, by Taaden (owned by the Sultanate of Oman's Sovereign Wealth Fund), Rapaport said that "the issue of sanctions has been resolved," but warned that tariffs must be negotiated.
"At the moment, the tariff is 10%, but in September it could rise to 32% unless there are negotiations," said the businessman, who is a supporter of Donald Trump's policies to counter the US trade deficit and who presented his view on the international diamond industry in Luanda.
The expert added that "with patience and negotiations," Angola could position itself as a supplier of critical minerals to the US, which could provide scope for improving trade conditions.
Martin Rapaport, one of the most influential figures in the global diamond industry, is the founder and president of the Rapaport Group and created the Rapaport Diamond Report in 1978, the leading reference for pricing in the rough and polished diamond trade. He is also the creator of RapNet, the world's largest electronic diamond trading platform.
While praising the evolution of the diamond sector in Angola, Martin Rapaport stressed that "the business is not just about extracting, it's about selling," arguing that investment in production must be accompanied by investment in marketing.
"If Angola makes efforts in marketing as it has in production, it will be a winner," he said.
Regarding Angola's diamond projects, the American expert was more impressed with Luele than with Catoca, pointing to environmental concerns at Angola's largest diamond mine.
"When I look at Catoca, I see a huge hole. We need to discuss land reclamation and what comes next. Luele, on the other hand, is new. I like solar and hydroelectric power; it's a good story," he said.
The Luele mine is Angola's latest diamond project, having started operations in 2023 and emerging as the country's largest kimberlite deposit.
The mining companies in Catoca and Luele account for over 80% of Angola's diamond production.
Rapaport also advocated a phased branding strategy, focusing on the Luele mining project as a first step, with positioning geared towards demanding markets such as the US and the Persian Gulf.
"The relationship with the US is essential, but they should also look to the Gulf, where there are no sanctions or tariffs," he said, also advocating a multifaceted approach to marketing, using channels such as social media, videos and digital influencers.
Rapaport also praised the Angolan government's strategy of reaching out to consumer markets and the international jewellery industry, including a recent visit to the United States by the minister responsible, Diamantino Azevedo.
"If you want to understand your customer, go visit your customer," he encouraged.
RCR/ADB // ADB.
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