Lom Breakout?, page-109

Export of diamonds by Angola yields 72,6MEuro in June

Angola produced and sold 760,939 carats of diamonds throughout the month of June, a global fit of 80.5 million dollars (72.6 million euros), up more than five percent from the May record.

The data are contained in an information of the Ministry of Geology and Mines that the Lusa had today access and indicate that sales of Angola amounted, on average, at $ 105 per carat in June, compared with $ 102 last month.

According to the same information, the increase in production (2.28% by volume) happened at a time when production in the Catoca mine in Lunda Sul - the fourth largest in the world and accounts for six million carats annually, 75% of the Angolan production - fell by almost 5%. Simultaneously, the craft market just two operators bought diamonds.

"With regard to the value of sales, there was an increase driven by the quality of carats from different projects, including the Lulo, Somiluana, Camutué and Luó".

Angola produced in June 2015 about 748,000 carats of diamonds, which earned 92.1 million dollars, at an average price of $ 124 per carat, registering so a 1.7% volume increase and a 13 break 3% in revenue compared to the same month 2016.

After oil, diamonds are the main export of Angola.

The chairman of the board of the National Company of Angola Diamonds (Endiama), Sumbula said last January that the diamond producing countries intend to reduce the amount of precious stones in the market to curb the fall in prices.

Among other projects, Endiama has announced that the first phase of production of the new mine Luaxe of diamonds in northern Angola interior, "the largest kimberlite" discovered in the country and that could double national production starts "in early 2018. "

Together with the other partners of the mining investment contract Luaxe, Endiama and Alrosa Russian predict invest billion (EUR 900 million) that concession, which will guarantee an annual production of about ten million carats.

The Luaxe mine should represent reserves around 350 million carats and has a forecast of operating more than 30 years.

JVP // VM

Lusa / End

http://24.sapo.pt/article/lusa-sapo...diamantes-por-angola-rende-72-6meuro-em-junho