The Angolan government is undertaking new key projects aimed at further developing its diamond market infrastructure – the establishment of an Angolan Diamond Hub and an Angolan Diamond Bourse. 

The diamond hub will include a gemmological academy and a technological research centre and will be located within a free trade zone, according to Minister of Mineral Resources and Petroleum of the Republic of Angola Hon. Diamantino Pedro Azevedo.

Citing the need for a single trading channel, the government will also create a dedicated diamond exchange.

State-owned Sodiam currently oversees the country’s diamond trade, which involves buying and selling, as well as imports and exports. Under the new framework, Sodiam will manage the Angolan Diamond Bourse.

Angola operates 14 mining projects – the largest of which is the Catoca mine, which produces 61 per cent of Angola’s total output in value terms. “It is estimated that only 40 per cent of Angola’s kimberlite have so far been discovered, while experts believe that there is a high potential for finding others. Angola could be the only exception to a global decline of rough production. This opinion is shared by several financial analysts,” revealed Sodiam.

The new infrastructures will be completed over the next two years, according to industry specialist Peter Meeus, who was appointed to lead a team of experts involved in the projects.