Angola aims to raise its annual diamond production to 17.53 million carats by 2027, targeting the position of the world’s third largest rough diamond producer. Expected revenue is projected to increase significantly this year, aided by new mining operations that will enhance production capabilities.
Angola is set to significantly enhance its diamond production, planning to increase its annual output to 17.53 million carats by 2027. This initiative aims to position Angola as the world’s third largest producer of rough diamonds. The country anticipates a growth in diamond revenue, projecting an increase from $1.4 billion in 2024 to $2.1 billion by the end of this year.
In conclusion, Angola is on track to elevate its status as a major player in the diamond industry by ramping up production and revenues. With new mines such as the Luele set to surpass existing operations and an emphasis on using proceeds for national development, the country is poised for economic improvement. Angola’s commitment to increasing diamond output reflects its potential to overcome past challenges and leverage its rich mineral resources for growth.
Original Source: www.idexonline.com
