Africa-Press – Angola. Angola has the potential to become the world’s largest diamond producer in the near future, driven by its vast exploration capacity and recent discoveries, the Secretary of State for Mineral Resources, Janio Correa Victor, said Thursday.
Speaking about the results of the 3rd International Conference on Mining in Angola, the official said the National Development Plan for the mining subsector aims to make Angola more attractive to national and foreign investment.
Victor explained that the country has large multinational companies and, as examples, mentioned Be Bears, the Lueli mine, with an annual production of approximately six million carats of diamonds, and Catoca, among other projects underway in the country.
In addition to production, he said that banking, insurance, and reinsurance companies have also played an important role in this area, having considered the production of 14 million carats of diamonds per year in the country a milestone, surpassing the previous nine million carats per year.
He said at least 1.4 billion US dollars have been yield with diamond sale , adding that higher prices would also increase revenue, since diamond companies are feeling the pressure from the drop in international market prices.
Despite the unfavorable international outlook for diamond prices, diamond companies in Angola continue to operate, and the government aims to increase production and overall mineral resources in the country.
The event aims to create an investment-friendly environment by fostering strategic partnerships between domestic and foreign investors, promote best practices in the exploration of mineral resources, and ensure sustainability through the sharing of innovative technologies and solutions.
Its objectives also include mapping investment opportunities in the mining and related services sector, stimulating investor interest and confidence.
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