africa Angola commodities diamond Economy Natural Resources

Angola with 1 bln karats of diamonds

Angola has a total of 1 billion carats of diamonds in resources and reserves of which over 950 million in Kimberly and more than 50 million in alluvial.

The data were released last Friday in Luanda by the deputy director of the company in charge of scientific research in the field and geological prospecting, Victor Ustinov.

Presenting the results of the studies on Angolan diamond potential started more than five years ago,

the manager said that such results suggest that the total resources and reserves may reach 1.5 billion

in  future should the sector conducts other studies aimed to boost the country’s diamond potential.

The studies, conducted by Angolan and Russian experts in the field, points to six rich chimneys, five of which belong to Catoca Mining Company.

Source: Angop


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