Young Diamantaires: We create initiatives for the benefit of diamond communities worldwide

The World Federation of Diamond Bourses recently launched its Young Diamantaires website. The organization has worked for the past four years with young members of the diamond community all over the world to create a platform through which they can express...

29 june 2020

Those who implement the right anti-crisis strategies have more chances

It is not surprising that because of the pandemic and the crisis, the most heated debate in the jewellery industry is about what is happening and the possible ways of survival. Irina Slesareva, an expert, art director of the Russian Diamond Line contest...

22 june 2020

The secondary diamond market in Russia is not mature although its prospects are huge

Pavel Barannik, the founder and head of the Moscow Gemological Laboratory, the founder of the Gemological Institute and President of the Moscow Diamond Club, graduated from the Gemological Institute of America (GIA). He is an expert and consultant...

15 june 2020

Johan Erikson: The industry needs to spend more on advertising and marketing

First Element is a fully independent Diamond Services Company registered in Belgium, Botswana, South Africa and Dubai. First Element is committed to providing a world class diamond service aimed at adding value to the entire supply chain, from the daily...

08 june 2020

African diamond firms on COVID-19 response, recent developments

Rough & Polished recently contacted several diamond producers and exploration companies with operations in Africa to establish how their operations were affected by the Covid-19 pandemic and what they are doing to alleviate the impact. We also sought...

01 june 2020

Angola mulls privatisation of state diamond company

11 july 2019

logo_endiama-2.pngThe Angolan government is set to privatise the national diamond company, Endiama and partially float its capital on the stock exchange, a Portuguese news agency has reported.
Minister of Natural Resources and Oil Diamantino Azevedo was quoted by Lusa as saying that a mineral resources agency is being set up to act as regulator and concessionaire.
Endiama, will no longer take on these roles and part of the diamond company will floated on the stock exchange, he said.
Azevedo said the realignment of the mining sector follows that of the oil sector, which saw Sonangol sell its non-strategic assets and will have a minority share of its capital floated on the stock exchange in 2020.
“The idea is the same, and the strategy for its implementation is now being drawn up,” he said.
“… the future Natural Resources Agency will benefit from all the experience and assets of the state-owned company that deals with precious metal and mineral resources.”
Endiama is expecting to earn about $1.5 billion in revenue this year compared with $1.25 billion realised from 8.47 million carats sold in 2018.
Endiama has a 41% interest in Catoca, which produces and sells about 6.8 million carats of Angolan Catoca’s reserves are estimated at 120 million carats. 
It also has interests two other primary kimberlite projects – Camutue and Luo. 
Endiama has stakes in nine secondary alluvial projects, which included Chitolotolo, Chimbongo, Cambange, Cuango and Lulo.
Endiama, together with Russia’s Alrosa, are prospecting for diamonds at the Luaxe kimberlite project. 
The deposit was discovered in 2013 and it has reserves of about 350 million carats with a lifespan of 30 years.  

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished