Angola wants recognition among world's diamond producers

  • Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo
Saurimo - Angola is seeking to consolidate its position at the top of the world ranking for production of rough and cut diamonds, the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo said Friday.

Diamantino Azevedo said that the diamond sector strategy also aimed to increase tax revenues, create jobs and create a business environment that would be favourable to attracting national and foreign private investment.

The Cabinet minister, who was speaking at the inauguration ceremony, by the President of the Republic, João Lourenço, of the Lunda Sul Diamond Development Hub, advocated granting the Saurimo diamond hub the status of a special economic zone, improving the process of selling rough diamonds to factories, as well as optimising the licensing process for export activities.

He invited investors to settle themselves in other diamond producing provinces and to contribute to the sustainable development of the country.

He said that the hub would ensure an increase in production of precious stones and metals and extend the value chain downstream, as well as representing a medium term step towards 20% of diamonds produced in Angola being cut in national territory.

"The advances derive from the structural reforms for transformation and optimisation of the mineral resources sector, the valuation of the product of diamond exploration, generation of opportunities to attract investment and boosting the skills of national human capital, with their continuous training and creation of jobs," he said.

Diamantino Azevedo said that the diamond sector strategy also aimed to increase tax revenues, create jobs and create a business environment that would be favourable to attracting national and foreign private investment.

The Cabinet minister, who was speaking at the inauguration ceremony, by the President of the Republic, João Lourenço, of the Lunda Sul Diamond Development Hub, advocated granting the Saurimo diamond hub the status of a special economic zone, improving the process of selling rough diamonds to factories, as well as optimising the licensing process for export activities.

He invited investors to settle themselves in other diamond producing provinces and to contribute to the sustainable development of the country.

He said that the hub would ensure an increase in production of precious stones and metals and extend the value chain downstream, as well as representing a medium term step towards 20% of diamonds produced in Angola being cut in national territory.

"The advances derive from the structural reforms for transformation and optimisation of the mineral resources sector, the valuation of the product of diamond exploration, generation of opportunities to attract investment and boosting the skills of national human capital, with their continuous training and creation of jobs," he said.