Angola intends to increase diamond production to 17.53 million carats by 2027 as part of its National Development Plan. The country forecasts significant revenue growth from diamond mining to support economic development. Recent investments and discoveries underscore Angola’s status as a prospective leader in the diamond industry. The upcoming African Mining Week will showcase these developments and connect investors with opportunities in the sector.
Angola aims to boost its diamond production to 17.53 million carats by 2027 as a pivotal aspect of its National Development Plan 2023–2027. This initiative seeks to utilize revenues from diamond mining to enhance food security, foster employment creation, and alleviate poverty. The nation anticipates a rise in diamond-related revenue from $1.4 billion in 2024 to $2.1 billion in 2025, thereby increasing its contribution to the national GDP.
With more than 24 operational diamond mines and 54 projects in exploration, Angola’s diamond sector is well-positioned for economic transformation, supported by strong government incentives. The forthcoming African Mining Week (AMW), a premier mining event, will highlight Angola’s lucrative diamond opportunities among other established and emerging African markets.
Recent discoveries and global investment indicate Angola’s promising future as a dominant player in diamond mining. According to ENDIAMA, the state diamond company, Angola possesses over 732 million carats of unexploited diamond reserves valued at over $140 billion. To leverage these resources, ENDIAMA plans to initiate a diamond production and processing pilot at Luachimba in 2025, amplifying the sector’s sustainable development contributions.
Strategic investments, such as Maden International Group’s acquisition of stakes in Catoca and Luele Mines from Russia’s Alrosa, signify fresh capital influx and expertise that may enhance diamond production and GDP growth. Moreover, De Beers has disclosed the identification of eight new diamond project targets, stemming from a strategic partnership with ENDIAMA to perform exploration activities, including airborne surveys and drilling.
In August 2024, the Lucapa Diamond Company unearthed a significant 176-carat diamond at the Lulo Mine, emphasizing Angola’s capability for high-grade diamond output, following 20 noteworthy discoveries in 2022. The AMW event presents an optimal platform for global investors and mining professionals to engage with Angolan authorities and projects, thereby exploring the extensive diamond potential in the region.
Moreover, AMW will occur alongside the African Energy Week: Invest in African Energy 2025 conference from October 1-3 in Cape Town, solidifying its status as a comprehensive venue for discussing diverse mining opportunities across Africa. Interested sponsors, exhibitors, and delegates may obtain further information at sales@energycapitalpower.com.
In conclusion, Angola is strategically enhancing its diamond production capabilities, aiming for significant growth by 2027. The country’s extensive unexplored diamond reserves and recent foreign investments highlight its potential as a leading diamond mining destination. Events such as the African Mining Week will further support the engagement of international investors and stakeholders, reinforcing Angola’s position in the global diamond economy.
Original Source: www.zawya.com
