Angola hoards over one million carats of diamonds in anticipation of better prices, said José Ganga Júnior, Endiama's President to the LUSA agency.
Endiama is the state-owned company responsible for Angola's diamond mining and trading activities. It is officially known as Empresa Nacional de Diamantes de Angola, E.P. (Endiama).
He commented during the semi-annual diamond production review meeting in Dundo, Lunda Norte province.
Júnior noted the lack of buyers to absorb production levels consistently over the past six months.
"The market situation is poor, affecting companies' operational costs. We must find survival ways . . .
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