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Angola: Huge Catoca Diamond Mine Slashes Production for 2020

Endiama has revised its output to 2 million, instead of the 10 million it had originally forecast
The Catoca diamond Mine Alrosa
Credit: ALROSA

The Catoca mine in Angola, the world’s fourth largest diamond mine, has cut its production 2020 guidance by 80%, IDEX Online reports.

 

rough diamonds lulu angola lucapa
Credit: Lucapa

 

The state-owned miner Endiama, which operates the mine together with Alrosa, has revised its output to 2 million this year, instead of the 10 million it had originally forecast. Catoca is responsible for about 75% of Angola’s annual diamond output and employs 3,500.people. Endiama also said it is postponing new investments and reducing expenses. 

 

corona virus international airport
Credit: TeamDAF / shutterstock.com

 

Before the coronavirus hit and impacted both production and demand, it was estimated that Angola’s diamond production would jump to 14 million carats in 2022 – positioning the country as the third largest diamond producer.



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