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ENDIAMA Eyes Diamond Production Increase in 2011

Feb 10, 2011 5:16 AM   By Deena Taylor
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RAPAPORT... Angola’s state-owned diamond mining company, ENDIAMA, expects to increase production to nine million carats in 2011, the company said. Endiama's output in 2010 reached 8.5 million carats with revenue from diamond sales totaling $955 million.

"I think 2011 production will increase and the revenues [will] also because the average price of diamonds is increasing. Last year it finished at $111 per carat; in January the average price was $134," company spokesperson Antonio Jose Freitas told Reuters this week.

The company resumed production at three of its mines last year as the diamond market began to see recovery from the slump of the global financial crisis.

Tags: Deena Taylor , Deena Taylor, ENDIAMA
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