Angola to Expand Diamond Value Chain With Cutting Plant

(IDEX Online News) – A diamond cutting plant is due to commence operations in Angola in March, said the country's Minister for Geology and Mining, Francisco Queiroz.

Queiroz said that the new factory was part of the country's National Development Programme and was intended to expand its diamond operations to cutting polishing diamonds and manufacturing jewelry rather than simply prospecting and mining diamonds, he told news agency Angop.

“In Angola we are already at the level of cutting and we have some experience in terms of jewelry, but this is limited,” said the minister.

He added that the factory also included a small unit for the production of jewelry.

Queiroz said the country's diamond mining sector provided tax revenues of almost $100 million annually.