Angola raised US$1.95 billion from diamond sales in 2022

Angola is expected to collect US$1.95 billion from the export of some 8.75 million carats of diamonds in 2022, the Ministry of Mineral Resources, Oil and Gas said today.

According to the head of the Planning department of the Studies, Planning and Statistics Office of the Ministry of Mineral Resources, Oil and Gas, Alexandre Garret, of the total diamonds produced last year, 8.71 million carats came from industrial production, and the remainder from semi-industrial production.

Alexandre Garret, who took stock of the achievements of diamond production, marketing, and exports in 2022, pointed out that the Catoca mine led the production, with about 64.82% of the total production volume.

“Compared to 2021, there was an increase in the volume produced of approximately 0.37%,” Alexandre Garret said in statements to Angolan public television.

An increase of 1.38% was also registered in the amount collected, compared to 2021, with the United Arab Emirates at 67.91%, Belgium at 21.25%, and China at 10.82%, the main destination countries of exports.

The official pointed out that last year, despite relative growth, the market experienced shortages due to the sanctions imposed on diamonds from Russia, which caused an increase in demand for this product in the international market and a rise in prices.

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