Angola Plans Diamond Polishing, Jewelry Manufacturing Industry

Diamond Centenary Conference Opens

Jun 20, 2013 8:42 AM By Avi Krawitz

Comment

Facebook

Twitter

RAPAPORT... Angola has embarked on a program to enhance diamond mining in the country and diversify its industry into diamond polishing and jewelry manufacturing.

Speaking at the Angola Diamond Conference in Luanda on Thursday, Manuel Domingos Vicente (pictured), the vice president of Angola, stressed that developing the diamond industry is a priority for the country during the next decade. The government has devised a strategic geological plan to develop the minerals sector until 2025.

“Among our objectives for the diamond sector are to bring added value to mining, contribute to the diversification of our national economy and to sustainable development of Angola,” Vicente said.

He added that during the next five years, Angola will concentrate its activities on the development of its national resources in exploration and development and called for foreign mining and diamond trading companies to invest in the Angolan industry.

Francisco Queiroz, Angola’s Minister of Geology and Mines, noted that during the 100 years of diamond mining in Angola, more than 100 kimberlite pipes have been identified, while only three kimberlite mines have been developed. The Catoca mine contributes 87 percent of production in Angola, he reported.

Fyodor Andreev, the CEO of ALROSA, which owns a 32.8 percent stake in Catoca, said he expects the Russia-based miner will increase its exploration activity in Angola. “We believe that huge geological upside is possible in Angola and the probability of new findings is high,” he said at the conference.

Andreev noted that the geology in the Lunda-Norte region is similar to the geological structure of the Russian territory of Nakyn, where kimberlite pipes were discovered in the past 15 years.

However, Queiroz stressed that the country sees opportunities across the pipeline in exploration, mining, cutting and polishing and jewelry manufacturing.

Tags: Alrosa, Angola, Avi Krawitz, Catoca, diamonds, ENDIAMA, Jewelry