The Angolan government plans to sell 5%-10% of its shares in Endiama, the national diamond miner, “as part of a series of economic reforms,” according to a report on Reuters quoted by IDEX Online.
The initial offering, of 5%-10%, will be made available on the Angolan stock exchange. It could reach 30% in a secondary foreign listing. Diamantino Azevedo, Minister of Mineral Resources, Oil and Gas, is quoted as saying: “Our goal is (to list) till 30 per cent but will start maybe with five or 10 per cent.”
Angola’s produced 8.75 million carats in 2022 was – “well down on an initial forecast of 13.8m carats.” According to a report in Rough & Polished, it plans to produce 12 million carats of rough diamonds worth $2.1 billion in 2023.
