Angola is targeting a diamond output of 17.53 million carats by 2027 to enhance food security, employment, and poverty reduction. Diamond revenue is projected to rise significantly, supported by over 24 mines and governmental backing. Recent discoveries and foreign investments underscore Angola’s potential as a leading diamond producer, with African Mining Week facilitating investor engagement and opportunities.
Angola aims to significantly boost its diamond output to 17.53 million carats by the year 2027, as outlined in its National Development Plan for 2023-2027. This increase is intended to utilize mining revenues for enhancing food security, generating employment, and alleviating poverty. Projections estimate a rise in diamond revenue from $1.4 billion in 2024 to $2.1 billion in 2025, which would enhance the sector’s contribution to the country’s GDP.
With over 24 active diamond mines and 54 exploration projects, Angola’s government is demonstrating robust support for the mining industry. The forthcoming African Mining Week (AMW) presents a vital opportunity to highlight Angola’s promising diamond prospects and attract further investment from established and upcoming markets across the continent.
Recent findings and international collaborations emphasize Angola’s standing as a potentially dominant player in global diamond mining. The state diamond entity, ENDIAMA, reports that the country has over 732 million carats of untapped diamond reserves, valued at more than $140 billion. In line with these developments, ENDIAMA plans to initiate a diamond production and processing pilot at the Luachimba facility in 2025, aiming to contribute to sustainable development initiatives.
Additionally, strategic foreign investments signal optimism for Angola’s mining sector. Maden International Group acquired stakes in the Catoca and Luele Mines, marking a pivotal entry into the Angolan market. De Beers has further affirmed this potential by discovering eight new diamond project targets amid its exploratory efforts, following a partnership with local agencies for comprehensive mineral exploration.
In August 2024, Lucapa Diamond Company made headlines by discovering a 176-carat diamond at the Lulo Mine, reinforcing the site’s reputation for high-grade diamond finds. Following 20 significant diamond discoveries at Lulo in 2022, this latest find showcases Angola’s capability within the global diamond market. The AMW will serve as a key platform for engagement between investors and Angolan regulatory authorities to explore these burgeoning opportunities.
The African Mining Week is set to take place alongside the African Energy Week: Invest in African Energy 2025 conference from October 1 – 3 in Cape Town. This event promises to be a significant gathering for sponsors, exhibitors, and delegates, providing a comprehensive landscape for navigating Africa’s mining sector and unlocking investment opportunities.
In summary, Angola’s robust plans for expanding its diamond production significantly position the nation to leverage mining revenues for socioeconomic development. With ongoing foreign investments, strategic partnerships, and notable diamond discoveries, Angola is poised to emerge as a formidable force in the global diamond market while addressing key developmental challenges. The African Mining Week will enhance efforts to connect investors with the country’s vast diamond potential, reinforcing Angola’s appeal as a prime investment destination.
Original Source: www.zawya.com
