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Angola ships 90% of its rough diamonds to UAE

27 november 2020
Image credit: Angolan Rough Diamond (Facebook)

Angola has been exporting 90% of its rough diamonds over the last couple of years to United Araba Emirates (UAE), according to a government official.
Special advisor to the Angolan mineral resources minister Mankenda Ambroise told an Angola - Dubai: Important Partners in the Future of Trade webinar last week that this shows the strong trading partnership between Angola and UAE. 
He also said that diamonds exported from Angola were subject to the certification of the Kimberley Process.
"Based on the KP data in 2019 Angola contributed 7% towards the market in carats and 9% in value," said Ambroise.
"In the world's rankings, we are in the top five in terms of production and the top four in terms of value."
He appealed to potential investors saying diamonds remain the most significant mineral in the Angolan mining sector. 
Kimberlites consist of 90% of the country's total production. 
The Angolan government has embarked on a journey to reform the country's mineral resources in general and diamonds in particular.
As part of the reforms in this industry adopted in 2018, the Angolan government approved a new rough diamond policy and the related technical regulation.
The implementation of the new policy aimed at ending the government's monopoly in the diamond sector had vastly improved the enabling business environment in the Angolan mining sector, said Ambroise. 
Angola opened its doors for direct rough diamond sales as companies are now allowed to sell up to 60% of their production to their chosen buyers.

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