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Angola diamond sale yields AKZ 10 billion

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The diamond sale yielded an AKZ 10, 2 billion gross revenues levied in the last four months this year.

According to the report from the Auditing Department of the Finance Ministry Special Taxation Directorate, this year there was not recorded any payment of diamond revenue in the months of January and March.

During the assessed period, 5.2 million carats were sold to a minimum price of USD 126, 65.

In 2017, USD 1 billion had been levied through a country’s 9,4 million carats output.

At least 90 percent of Angola’s diamond exploitation is industrial, while 10 percent is artisanal.

Catoca Mining Society (SMC) is the one that contributed more with 89, 22 percent, while the rest f the companies of the sector recorded loss.

Most of the output (70 percent) was sold to countries such as United Arab Emirates, Hong Kong, Belgium and Switzerland.

Angola has since June a new programme intended for diamond trade companies, which sets a pillar of the new trade policy adopted by the country and includes prospection and diamond exploitation areas.

The previous programme was essentially based on preferential clients, in which a restrict group of companies owned the right to buy all the country’s diamond output.

Source: Angop

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