Advertisements

Africa Mining: Angola to have diamond focused industry hub

A hub dedicated to the diamond industry in Angola will be inaugurated in 2019 in Saurimo, Lunda Sul province, the minister of Mineral Resources and Oil announced on Thursday.

Diamantino Azevedo said that setting up the hub, a project developed jointly by state diamond mining and processing company Endiama and state diamond sales company Sodiam, is in its final phase.

The minister also said that the hub project includes a diamond cutting and polishing factory, a professional technical school and other institutions and industries linked to the diamond business.

The minister, who was speaking at an end-of-year greeting ceremony explained the restructuring carried out in the sector, adding that the Ministry wants more companies to invest in diamond prospecting and mining, according to the Angop news agency.

Sodiam’s chief executive, Neves Silva, said last week that the diamond cutting and polishing plant, which will begin work in August 2019, has a cost currently estimated at US$10 million and will be the unit with the highest installed capacity in Angola.

Angola currently has only one diamond polishing plant, Angola Polishing Diamonds, located in the municipality of Belas (Talatona), in Luanda, with a production capacity of 5,000 carats of diamonds per month. (source: macauhub)

Advertisements

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: