Angola's Diamond Revenue Rises 6.2 per cent to $1.299 billion

(IDEX Online) - Diamond production in Angola rose by 12.3 percent last year, according to Sodiam, the state diamond marketing company.

But revenue for 2019 was up by only half that figure (6.2 per cent) due to a fall in prices on international markets.

Sodiam said it sold 9.44 million carats of diamonds, providing income of $1.299 billion.

Production and sales were "satisfactory," said Janio Correia Victor, secretary of state for geology and mines.

He predicted a rise in production this year to 14 million carats.

Production in Q4 of 2019 reached 3 million carats, which sold at an average price of $136.40 per carat, yielding a $409.77 million revenue.