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Angola Holds Auction For Production Of Rough Diamonds

A miner shows off the estimated 5 to 7 carat diamond just found in his concession 28 March 2013 near an Angolan village not far from the Congolese border. This type of find is quite a rare sight. Long hours and long days of work and even months can pass by without discovery of any gems at all. It is custom to safe keep the diamonds under one’s tongue, sometimes for several days. The name of the village is not disclosed by request of locals. © Olivier Polet (Photo by Olivier Polet/Corbis via Getty Images)

 

The Angolan National Diamond Trading Company held an auction online for its production of rough diamonds, according to a press release issued by the company on Thursday.

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The auction was the largest in terms of participation and value collected, with tenders bidding for production of rough diamonds in the Uari, Lulo, Catoca and Luele mines.

 

The evaluation of bids took place from June 9 to June 23 and the bids were submitted electronically, the company said.

 

At least 50 companies from the world’s main diamond markets presented their bids online for the auction.

 

Founded in 1999, the company is responsible for marketing Angola’s diamond production.

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Written by PH

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