Angola wants to polish its own diamondsFebruary 18, 19
The Diamond Trading Society of Angola (Sodiam) is spending more than US$ five
million to establish and operate its diamond cutting and polishing subsidiary Stone
Polished Diamond in Angola’s capital of Luanda. The company currently employs 70
people but is expected, according to Eugénio Pereira da Rosa, Sodiam’s Chief
Executive Officer, to expand the work force to 400.
By 2020, the plant is to polish between 2000 carats to 3000 carats per month. Initially,
the firm is to polish rough diamonds of from three to ten carats and special stones that
weigh 10.8 carats or more.
Pereira da Rosa reported an additional diamond cutting and polishing facility will be built
in Saurimo, in Angola’s eastern Lunda Sul Province. Construction of the plant will begin
in March 2019, with an investment of US$ 10 million.