Angola aims to boost diamond production to 17.53 million carats by 2027 to enhance food security, create jobs, and alleviate poverty. The expected revenue increase from diamond activities underscores significant economic potential. The African Mining Week will highlight opportunities in Angola’s diamond sector, showcasing the country as a major player in global mining.
Angola is striving to enhance its diamond production to 17.53 million carats by 2027 as part of its National Development Plan (2023-2027). This initiative aims to utilize mining revenues to improve food security, create employment, and foster poverty alleviation. The country anticipates a rise in diamond revenue from $1.4 billion in 2024 to $2.1 billion in 2025, thus elevating the sector’s contribution to the national GDP.
With more than 24 operational diamond mines and 54 exploration projects, as well as strong governmental backing, Angola’s diamond industry presents significant potential for economic transformation. The forthcoming African Mining Week, recognized as Africa’s leading mining event, will highlight lucrative diamond opportunities in both established and emerging markets, including Angola.
Recent findings and foreign investments indicate Angola’s capacity to emerge as a formidable player in the global diamond mining arena. State diamond company ENDIAMA estimates that the nation possesses over 732 million carats of untapped diamond reserves, valued in excess of $140 billion. In 2025, ENDIAMA is set to initiate a diamond production and processing pilot at the Luachimba facility, enhancing the sector’s role in sustainable development.
In November 2024, Maden International Group, a subsidiary of Oman’s Sovereign Fund, entered Africa’s diamond market by acquiring interests in Catoca and Luele mines from the Russian firm Alrosa. This strategic investment is anticipated to introduce new capital and expertise, thereby unlocking Angola’s diamond production and contributing to GDP growth. Meanwhile, De Beers announced the identification of eight new diamond project targets in October 2024 as part of its collaboration with ENDIAMA, focusing on cutting-edge exploration techniques.
August 2024 marked a significant milestone when Lucapa Diamond Company uncovered a remarkable 176-carat diamond at the Lulo Mine, ranking among the world’s largest. This discovery not only exemplifies Angola’s potential for high-grade diamond yield but also follows 20 notable finds in 2022. The African Mining Week serves as an exceptional conduit for global investors and mining professionals to engage with Angolan regulators and project opportunities in the diamond sector.
This event is scheduled alongside the African Energy Week: Invest in African Energy 2025 conference from October 1-3 in Cape Town. It presents a unique opportunity for sponsors, exhibitors, and delegates to explore a vast range of investment prospects in the mining sector in Angola.
In conclusion, Angola’s ambition to elevate its diamond production echoes the nation’s drive toward economic growth and sustainable development. With substantial efforts and investments underway, the diamond sector holds remarkable promise for national prosperity. The upcoming African Mining Week will serve as an ideal platform for fostering investment, highlighting Angola’s status as a premier destination for diamond exploration and production.
Original Source: www.zawya.com
