Angola aims to become third-biggest producer of cut diamonds

The boss of Angolan national diamond company Endiama has said his country aspires to surpass Canada to become the third-biggest miner and cutter of diamonds in the world after Russia and Botswana, Xinhua reports.

The Chinese government-run news agency quotes Endiama Chief Executive José Manuel Ganga Jr. as telling a news conference: “We have been working with major diamond companies around the world to add more value to the sector.”

The industry will be capitalised more thoroughly to make it more competitive, more open to scrutiny and more efficient, Xinhua quotes Mr Ganga as saying on Monday.

In a separate report, África 21 Digital says Endiama posted output of about 9.09 million carats of diamonds last year, undershooting its target by 4.8 percent, and posted sales worth US$1.26 billion.

The company expects sales to grow to US$1.66 billion this year and has set a sales target of US$2 billion for 2022, the website says.