News

Advanced Search

Angola’s Annual Rough Revenue Rises

Feb 16, 2020 8:44 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Revenue from Angola’s national diamond-trading company, Sodiam, rose 6% in 2019 as the company sold a higher volume of rough goods.

Proceeds for the year came to $1.3 billion from the sale of 9 million carats of rough diamonds, compared with 8.4 million carats in 2018, the government said in a Facebook post last week. That offset a 10% drop in the average price to $137 per carat for the year. 

The increase came despite weakness in the rough-diamond market in 2019, with many miners, including De Beers and Alrosa, reporting a decrease in sales.

Angola implemented a new, more competitive diamond-trading policy that allows miners to offer 60% of their production to clients of their choice rather than selling through the state trading company.

In the fourth quarter, Sodiam sold 3 million carats of rough for $409 million, at an average price of $136 per carat.


Image: Catoca mine. (Alrosa)
Tags: Angola, Catoca, Catoca mine, Rapaport News, SODIAM
Similar Articles
Petra Cullinan 150Petra Seeks Buyer for Its Business
Jun 28, 2020
Petra Diamonds plans to sell the company as it struggles with mounting debt.The company owns the Cullinan,
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2020 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.