africa Angola diamond environment Finance Mining Trade

Angola’s Sodiam nets US$316M revenues in second quarter

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The national diamond trading company “Sodiam” raised gross revenues during the second quarter of this year, to USD 316,527 million, up 21 percent from the first quarter, according to its administrator, Fernando Amaral.

Of this amount, USD 295,39 million (93%) come from industrial activity, while USD 21,487 (6 percent) come from artisanal exploitation.

Speaking to the press, on the sidelines of the second “Outlook” meeting on diamond trading in the second quarter of 2018 and the market outlook for the third quarter, the manager explained that the diamonds traded in the period were essentially from the provinces of Lunda Sul (85 percent) and Lunda Norte (15 percent).

This commercialization is the result of the production of 2,315 million carats, of which more than 2,146 million carats (92 percent) come from industrial production and 169, 270 carats (7 percent) from artisanal production.

According to the official, more than 1,985 million, accounting for 85 percent of the volume were of kimberlitic origin and 330,49 carats (14.3%) of alluvial origin.

The total average price for the period was 136.69, and for industrial production the price was set at USD 137.45 and for artisanal production 126.94.

Source: Angop

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