Angola’s revenue from diamond sales totaled $1.95 billion in 2022, an increase of almost a quarter over 2021, IDEX Online reports.
According to the Ministry for Mineral Resources, Oil and Gas, Angola’s exports totaled 8.75 carats – way below the original forecast for the year, which was 13.8 million.
In the past, Angola’s Minerals Minister Diamantino Azevedo said that the country – currently the world’s fourth largest rough diamond producer – has the “potential to become the world’s second-largest rough diamond producer by 2030.
Azevedo said that Angola was the only country in the world in the past decade “where diamond production had been growing due to the discoveries of new deposits.” The Luaxe deposit, discovered by Alrosa and Catoca in 2013, is expected to yield about 5.7 million carats in 2023 – more than half of what Angola produced in 2020.
