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Mon, 11 Feb 2019 17:48 - Updated Mon, 11 Feb 2019 17:58

Angola unveils new diamond-cutting factory

Luanda - Angola will open Tuesday a new diamond and special stone cutting plant worth USD 5 million, in the wake of a partnership between Angolan private investors and the Diamond Trading Company of Angola (SODIAM).

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Diamond sample

Photo: portal.angop.ao

The Stone Polished Diamond (SPD) is installed in a ??400 square meter area in Luanda’s Talatona municipality.

Ten percent of the amount belongs to SODIAM, according to a note from the aforementioned private company that reached Angop Monday.

The plant will initially process three to ten carat diamonds and special stones, with the first year of operation covering two thousand carats of stones on monthly basis.

Angolans will represent the majority of the workforce, under the company’s policy.

The plant joins the "Angola Polishing Diamond - SA", inaugurated in the country's capital in 2015, with the capacity to process annually precious stones valued at approximately USD 240 million in a partnership between SODIAM and the firm "LLD Diamonds "belonging to Israel's Lev Leviev, the world's largest diamond cutter.

Also this year a diamond cutting plant will be installed in Saurimo (eastern province of Lunda Sul), with the capacity to process four carats of diamond per month, as part of SODIAM's strategic plan for the five-year 2018 / 2022.

Tags Diamonds  

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