Antwerp and Angola Sign Diamond MoU
December 02, 24
(IDEX Online) - Antwerp and Angola have signed a memorandum of understanding (MoU) aimed at strengthening their diamond ties.
Antwerp is hoping to win a bigger share of Angola's diamond exports, which are currently dominated by Dubai.
Antwerp World Diamond Centre (AWDC) signed the MoU last week with Angola's state-owned miner Endiama and with its sales company, Sodiam.
"We firmly believe that the share of direct imports of Angolan rough diamonds can grow significantly," said Isidore Morsel, AWDC chairman.
The AWDC says both parties aim to strengthen trade relations, to ensure more Angolan rough diamonds find their way to Antwerp.
It also says that through the agreement it could provide Angola with the necessary expertise to establish an G7 export verification point for rough diamonds. That would be in addition to Antwerp, currently the sole verification point, and Botswana, due to be established some time next year.
"We can provide them with practical and technical tools to help make a G7 verification point in Angola a reality in the future," said Karen Rentmeesters, CEO of AWDC.
Angola is the world's fourth biggest diamond producer by value (according to Kimberley Process figures for 2023) but 60 per cent of its diamond-rich territory remains unexplored.