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Angola’s semi-industrial diamond earnings surpass US $5M over 2 years

Angola's semi-industrial diamond earnings surpass US $5M over 2 years

Angola’s revenue from semi-industrial diamonds stood at around 5.1 million U.S. dollars from March 2019 to September 2021. Ana Feijo, executive administrator of Endiama, said that during the same period, 34,855.53 carats of diamonds were produced and sold at an average price of between 88 and 131.18 U.S. dollars per carat.

The official made the statement while addressing an assessment meeting on the semi-industrial mining activities in the country. Feijo also said that semi-industrial mining made it possible to employ 4,651 workers, both nationals and foreigners, with an increase of more than 1,000 workers compared to 2019.

Rich mineral deposits

Liberia has rich mineral deposits.  Historically, mineral extraction – particularly of iron ore, gold, and diamonds has been a leading export sector.  The major minerals are exported mainly in raw or semi-finished forms.  Manganese, bauxite, uranium, zinc, and lead deposits are also present.  Diamond deposits, primarily exploited via alluvial and artisanal diamond mining, are widespread throughout the country.

The government issues Kimberly Process (KP) Origin Certificates, which enable the legal export of rough diamonds to other KP member countries.  With gradual recovery in global iron ore prices, iron ore mining plays a significant role in the economy, accounting for more than 47% of total export earnings in 2020.

Artisanal and small-scale mining (ASM), predominantly of gold and diamonds, takes place in many parts of Liberia. This is primarily by unlicensed and illegal miners, but it contributes to the country’s economy through royalties and taxes paid by licensed dealers.

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