Another $200mn investment set for Angola’s diamond sector to increase production in 2020

Angola's diamond sub-sector is set to pump out USD 200 million in 2020 to augment production from 11.3 million carats to 13.8 million carats in a period of one year.

The requirement for investment in Angola's diamond sub-sector augmented from USD 128.7 million in 2017 to 200.9 million in 2018 and 215.7 million in 2019. With the investments made, 6.1 million carats were recovered in 2017, 8.8 million in 2018 and 11.3 million carats in 2019. Endiama will need to invest USD 1 billion over the next 5 years to start capital-intensive projects.

According to Endiama administrator Laureano Paulo, who was speaking to the press, during the closing ceremony of the "1st International Mining Conference and Exhibition", due to this reality and in terms of financial need, efforts should be made to to know the best sources of funding.

"Only in this way we can make the projects in operation," the official opined who admitted it is essential to explore credit lines for export and pre-financing mining projects, by the purchasing companies in the production phase.

Judging by the attractiveness of investors, especially foreign investors, the number of contracts signed and other projects, the financial needs can amount to two to three million dollars / year, according to Laureano Paulo.

Without giving any figures, he highlighted the Luaxe mine project that will be explored from 2020 by Catoca mining society and partners.