Angola polishes less than 5% of diamond produced

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Luanda - The country has the capacity to cut less than five percent of the diamond produced in Angola, a fact that has led to most of the rough diamond's production being exported, the executive secretary of the National Commission for the Kimberley Process, Estanislau Buio said Wednesday in Luanda.

Speaking on the theme, "Angola's contribution to the Kimberley Process certification system and ongoing reforms," as part of a capacity-building seminar for economic journalists, he said that the four polishing factories in the country were still "unable to transform the 20% of production allocated by the Diamond Commercialisation Policy Code.

According to that code, 60 percent of diamond production is owned by the producer, 20 percent is allocated to Sociedade de Comercialização de Diamantes de Angola (Sodiam) and 20 percent to the cutting factories.

According to Estanislau Buio, the country would earn more revenue if half or most of the production was processed locally, exporting the finished product.

"As long as there is not enough capacity for cutting in the country, we still have to export the rough diamond," he added.

In order to increase cutting capacity and add more value to Angolan diamonds, the Saurimo Diamond Development Hub (PDDS), located in the mining province of Lunda Sul, is being built.

 

Speaking on the theme, "Angola's contribution to the Kimberley Process certification system and ongoing reforms," as part of a capacity-building seminar for economic journalists, he said that the four polishing factories in the country were still "unable to transform the 20% of production allocated by the Diamond Commercialisation Policy Code.

According to that code, 60 percent of diamond production is owned by the producer, 20 percent is allocated to Sociedade de Comercialização de Diamantes de Angola (Sodiam) and 20 percent to the cutting factories.

According to Estanislau Buio, the country would earn more revenue if half or most of the production was processed locally, exporting the finished product.

"As long as there is not enough capacity for cutting in the country, we still have to export the rough diamond," he added.

In order to increase cutting capacity and add more value to Angolan diamonds, the Saurimo Diamond Development Hub (PDDS), located in the mining province of Lunda Sul, is being built.