(Ecofin Agency) - 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