Angola plans to increase diamond production to 17.53 million carats by 2027 as part of its National Development Plan, aiming to leverage mining revenues for food security and poverty reduction. The sector’s revenue is expected to grow significantly, contributing to GDP. Recent investments and discoveries underscore Angola’s potential as a leading diamond producer, emphasizing the importance of African Mining Week for attracting global investments.
Angola is advancing its economic agenda by targeting an increase in diamond production to 17.53 million carats by 2027 as part of its National Development Plan for 2023–2027. The government aims to utilize mining revenues to enhance food security, generate employment, and alleviate poverty. Anticipated revenues from diamonds are expected to rise from $1.4 billion in 2024 to $2.1 billion in 2025, contributing significantly to the nation’s GDP.
With over 24 operational diamond mines and 54 exploration projects, Angola’s diamond sector showcases prospects for economic transformation with substantial governmental support. The forthcoming African Mining Week (AMW) will highlight lucrative diamond opportunities across Africa, particularly in Angola, fostering an environment for investment and growth in the mining sector.
Recent developments, including new project launches and international investments, emphasize Angola’s potential as a global leader in diamond mining. State-owned ENDIAMA has reported over 732 million carats of untapped diamond reserves valued at over $140 billion. In 2025, ENDIAMA plans to initiate a diamond production and processing pilot at the Luachimba facility, strengthening the sector’s sustainable development.
In November 2024, Maden International Group, part of the Sovereign Fund of the Sultanate of Oman, entered the Angolan diamond sector by acquiring stakes in Catoca and Luele Mines from Russia’s Alrosa. This partnership brings in new capital and expertise to enhance diamond production and stimulate GDP growth in Angola. De Beers also announced significant discoveries of new diamond targets in collaboration with ENDIAMA and other partners, further reinforcing Angola’s appeal in the gemstone market.
In August 2024, the Lucapa Diamond Company discovered a remarkable 176-carat diamond at the Lulo Mine, marking a resurgence in high-grade diamond finds. This was the fifth diamond over 100 carats discovered at Lulo in 2024, highlighting the site’s potential for significant diamond production. The upcoming AMW will act as an essential platform for global investors to engage with Angolan authorities and explore economic opportunities in the diamond mining sector.
African Mining Week, taking place from October 1-3 in Cape Town alongside the African Energy Week: Invest in African Energy 2025 conference, provides an ideal venue for stakeholders to discuss investments and forge strategic partnerships that could enhance Angola’s status as a premier diamond investment destination.
In summary, Angola’s diamond mining sector is poised for significant growth, with ambitious production targets and the potential for substantial economic transformation. Strategic investments and international partnerships are crucial for unlocking this sector’s vast potential. The upcoming African Mining Week will serve as a crucial venue for fostering connections between global investors and Angolan mining opportunities, further solidifying the country’s position in the global diamond industry.
Original Source: www.africa.com
