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Angola To Produce Less Than 2 Million Carats Of Diamonds In 2020 Due To COVID-19

An estimated 5 to 7 carat diamond is just found in this 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. The name of the village is not disclosed by request of locals. © Olivier Polet (Photo by Olivier Polet/Corbis via Getty Images)

Angola will produce less than 2 million carats of diamonds, rather than the 8 million previously expected for 2020, Ganga Junior, CEO of the National Diamond Company Endiama, said here Friday.

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The official told press that the drop in production is being caused by the COVID-19 pandemic. But the company continues to work on its restructuring to increase production.

In 2019, Angola’s 12 mining companies produced 9.2 million carats.

Angola expects to increase diamond production to 14 million carats by 2022, which could make the country the third largest diamond producer in the world.

Gross revenue from Angola’s diamond sector in 2019 reached 1.26 billion U.S. dollars, up 10 percent, or 34.7 million U.S. dollars, compared with that of 2018.

The southern African country expects revenue from the diamond sector to rise to 1.5 billion dollars by 2022.

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Written by PH

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