Luanda — At least 40 companies are registered to participate in Angola’s first rough diamond auction, an initiative to strengthen commitment to innovation and transparency in the diamond industry, said Minister of Mineral Resources and Oil, Diamantino Azevedo.
Among the companies competing for the first auction of seven high-carat stones, six are Angolans and will join foreign companies in launching the implementation of the new diamond marketing policy, approved by the Council of Ministers on July 27, 2018, and which puts an end to the preferential customer monopoly.
Diamantino Azevedo, speaking on Monday at the launching ceremony of the aforementioned auction, considered that the challenge for economic diversification is to boost the mining sector by stimulating the implementation of macroeconomic policies, taking into account the considerable mining potential of the country.
According to the official, the impact of these policies, through the aggregation of values, exploitable and exported products, as well as their potential in the generation of jobs, translates into the platform to boost the national economy.
Angola ranks fifth in terms of value, so the minister believes that with the new investment incentives, the reinforcement of the current operations and the aggregation of the sales modalities, its contribution to the national economy will increase.
Of the seven stones to be auctioned, the highlight is a 114-carat Illa D-Color diamond and a 46-carat pink diamond from the Mineira do Lulo Society.
The auction follows a schedule established by the organization, and on January 28 and 29 will be registered in the Platform, on the 30th January will begin the bids that close on January 31, the same day that the disclosures begin extend until 1 February.
In 2018, the diamond industry produced 9.4 million carats of diamonds, which enabled us to bill $ 1.2 billion.
The outlook for this year (2019), in terms of production, is 9.5 million carats and a turnover of 1.3 billion dollars.