Angola Produced More Diamonds On The Yr in 2015, But Revenues Lower

Finance and Trade
03/01/2016 12:59

Angola produced a record 8,837,414 million carats of diamonds with a value of more than $1.1 billion last year, Geology and Mining Minister Francisco Queiros was cited as saying by allafrica.com. Although Angola's diamond output was higher than the 8,750,892 carats mined in 2014, its revenue was lower than the $1.31 billion figure for 2014. Most of the country's diamond output is of industrial quality stones. Queiros said his ministry awarded six licenses for diamond production in 2015. “We are pleased, because we have reached a very good production target,” said Queiros, who added, however, that Angola needs billions of dollars to implement a number of mining projects, including a diamond project in Lunda Sul.