Geology and Mines Minister Francisco Queiroz addressing the conference.

(IDEX Online News) – Angola intends to develop its diamond industry beyond mining to cutting and polishing stones and creating a large jewelry manufacturing sector, Geology and Mines Minister Francisco Queiroz told the Angola Centenary Diamond Conference.

 

"The government believes the diamond industry can play a large role in the economic development of the country by providing employment and contributing further funds to the government through taxes and royalties," he said.

 

The country is believed to have 1,000 diamond areas but has just three mines, including the Catoca mine which produces 87 percent of Angola's diamonds, he said. As a result, the country would like to enter into cooperation agreements with foreign and domestic investors to develop the sector.

 

State-owned diamond company Endiama is playing a major role in revitalizing the country's diamond industry from exploration to the polishing and trading of diamonds and the creation of a national jewelry industry, Queiroz told the conference which is being organized by Endiama to celebrate 100 years since the discovery of diamonds in the country.

 

Queiroz said the government is actively involved in eradicating illegal mining in the country, while also promoting artisanal mining in line with Kimberley Process (KP) standards.

 

Queiroz said his ministry was updating its cooperation in the diamond mining sector with other diamond-producing states in Southern Africa.

 

Echoing comments made earlier at the conference by the country's vice president, Manuel Domingos Vicente, Queiroz said Angola would like to be the KP vice chair in 2014.

 

"We have been working closely with the KP since it was established, and we would like the support of the international community to be vice chair next year," Queiroz said.

 

Among the other speakers on the first day of the two-day conference are Alrosa President and CEO Fyodor Andreev, KP Chair Welile Nhlapo, and World Diamond Council President Eli Izhakoff.