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Growing Strong: Angola to Establish Its Own Diamond Hub and Bourse

Angola has appointed industry expert Peter Meeus to coordinate the initiative
rough diamonds lulu angola lucapa
Credit: Lucapa

Angola, currently the sixth biggest diamond producer in the world, plans to establish its own bourse and hub “as it seeks to consolidate its position as a player on the world market”, IDEX Online reports.

 

The Catoca diamond Mine Alrosa
Credit: ALROSA

 

Angola has appointed industry expert Peter Meeus to coordinate the initiative. Meeus served as managing director of the HRD in Antwerp and helped to turn Dubai into a diamond hub. According to a statement, Angola, which is yet to explore 60% of its kimberlite resources, believes that “the Angolan Diamond Hub will […] provide the platform that will put this enormous flow of diamonds under one roof”.

 

Stream sampling - a technique used by geologists to identify indicator minerals
Credit: Argyle Diamonds

 

Sodiam, the government body that supervises diamond trading, will manage the newly-established Angolan Diamond Bourse. In 2019, Sodium sold 9.44 million carats of Angola diamonds for a total of $1.299 billion.



Tags: Diamonds News, Diamond Industry News, Angola News

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