Angola Aims for New Heights in Diamond Production

Angola's state-owned diamond company, Endiama, plans to increase its diamond production from 14 million carats in 2024 to 17 million by 2027. Additionally, Angola aims to secure a stake in De Beers, enhancing its global market presence.

Angola's state-owned diamond miner, Endiama, has set an ambitious goal to raise its diamond output to 17 million carats by 2027. The plan reveals government aspirations to elevate beyond the current record of 14 million carats expected in 2024.

The announcement was made in a booklet distributed at the Africa Mining Indaba conference in Cape Town, where an Endiama spokesperson emphasized the strategic aim. This production surge positions Angola as the third-largest producer of rough diamonds globally, trailing only Russia and Botswana.

Further cementing its market influence, Angola's mineral resources director, Paulo Tanganha, disclosed potential government plans to acquire a 20%-30% stake in De Beers through Endiama and Sodiam. Such a move could significantly boost Angola's standing in the international diamond trade.