Angolan firm Catoca Mining Society (CMS) produced in 2016, 7.2 million ct of diamonds, counting all its activities in the nation, its Managing Director, Sergei Amelin, said. He highlighted that the global slump in prices of diamonds did not allow the company to achieve its initial forecasts.
The output achieved by the firm which mines 75% of Angola’s diamond includes Catoca kimberlite, as well as diamonds from the Luemba, Gango, Quitúbia, Luangue, Vulege, Tcháfua and Luaxe projects.
Generally, Angola’s diamond output fell in 2016, due to a 60% drop in artisanal mining. According to the Angola’s Minister of Mining, Francisco Queiros, cited by macauhub, the diamond sector generated in 2016 $1.082 billion, which is less than in 2015.
Despite the slight decrease in revenues and output, Mr. Queiros said the sector had a promising future with a good outlook for significant increase in the years to come.
Louis-Nino Kansoun
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From WHO-led efforts to strengthen pandemic preparedness to measles vaccination drives in Uganda, al...
Jetour to produce T1, T2 SUVs in South Africa from 2027 Chery to acquire Rosslyn plant, cre...
BCEAO 2025 net profit falls 14% to 588 billion CFA francs Dollar depreciation drives foreign exchange losses, reversing prior gains Gold...
Tanzania cashew output rises 17% to record 617,683 tons Production growth continues, though below 700,000-ton target Government plans...
Nigeria’s Tinubu begins tour to France, Kenya, and Rwanda Will attend Africa-France Summit and Africa CEO Forum on investment Visit aims to...
Rwanda, Tanzania agree to deepen cooperation across key sectors Leaders pledge to remove trade barriers, boost regional integration Talks...
In the far north of Cameroon, near the Nigerian border, lies Rhumsiki, a destination that feels almost untouched by time. Set within the Mandara...
UK museum to return 45 Botswana artifacts after 150 years Items collected in 1890s; restitution follows Botswana request Return tied to...