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Today

Colorless diamonds as an investment class are evolving beyond their traditional ability to preserve, relocate and pass on wealth

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Jewellery with diamonds, even with small ones, sells better than without diamonds

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Lucapa’s Wetherall on the past, present and the future

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India’s gem and jewellery industry expects the government will consider its demand for lower import duty on raw materials

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25 march 2019

Angola to set up cutting, polishing hub in Lunda Sul

08 february 2019

Angola is setting a hub for companies interested in investing in cutting and polishing of diamonds, a government official has said.
Minister of Mineral Resources Diamantino Azevedo told a gathering of investors on the sidelines of a mining conference in Cape Town that SODIAM, the state-owned company responsible for the trading of diamonds in Angola, would set up the hub in Lunda Sul Province.
“Companies [interested] will then come and set up their facilities there,” he said.
The province was rich with diamonds and was home to Catoca mine, the fourth largest diamond mine in the world.
Angola had a single polishing factory and the envisaged hub would initially cut about 4,000 carats per month, according to reports.
The country introduced a new diamond trading policy, which among other things, mandated diamond producers to supply 20% of their rough output to local companies for cutting and polishing. 
Angola produced 9.4 million carats last year, but sold 8.47 million carats for $1.25 billion.

Mathew Nyaungwa, Editor in Chief of the African Bureau, from Cape Town, South Africa, Rough&Polished