Angola plans to increase diamond production significantly by 2027, leveraging mining revenues to improve food security and economic growth. The anticipated rise in diamond revenue, coupled with multiple operational mines and new investments, positions Angola as a significant player in the global diamond market. Key events like African Mining Week will facilitate new partnerships and opportunities in the sector.
Angola aims to boost diamond production to 17.53 million carats by 2027, as part of its National Development Plan (2023–2027), using mining revenues to enhance food security, create jobs, and reduce poverty. Expected diamond revenue is projected to rise from $1.4 billion in 2024 to $2.1 billion in 2025, increasing its GDP contribution significantly with over 24 operational mines and 54 exploration projects.
The upcoming African Mining Week (AMW), a leading mining sector event, will highlight Angola’s lucrative diamond market among established and emerging markets in Africa. Recent mining discoveries and international investments demonstrate Angola’s potential as a diamond mining leader, with the state diamond company ENDIAMA estimating over 732 million carats of diamond reserves valued at more than $140 billion.
In 2025, ENDIAMA plans to launch pilot diamond production and processing at the Luachimba facility, aligned with sustainable development goals. Advanced studies are also underway at the Xamacanda facility to further expand production capabilities. Notably, in November 2024, the Maden International Group invested in Angolan diamond mines, bringing new capital and expertise to boost production.
De Beers’ recent announcement in October 2024 of eight new diamond project targets underlines Angola’s expanding exploration potential, stemming from its partnership with ENDIAMA and other institutions. Further assessments of new diamond and vital minerals are ongoing with Rio Tinto, highlighting a collaborative approach to resource management.
In August 2024, a significant 176-carat diamond was discovered at the Lulo Mine by Lucapa Diamond Company, enhancing Angola’s reputation for high-grade diamond yields. This follows a series of noteworthy finds, with 20 significant diamonds discovered at Lulo in 2022, indicating robust exploration activity and resource availability.
African Mining Week offers an essential platform for investors and mining stakeholders to engage with Angolan regulatory bodies and explore investment opportunities. AMW, occurring alongside the African Energy Week conference from October 1-3 in Cape Town, aims to facilitate strategic partnerships and investment discussions regarding Angola’s diamond potential.
Angola is strategically positioning itself as a global diamond powerhouse through increased production efforts, securing foreign investments, and extensive exploration of its diamond reserves. The country aims to leverage mining revenue to foster economic growth, job creation, and poverty alleviation while enhancing its GDP contributions. Events like African Mining Week will provide critical platforms to attract global investments and partnerships, reinforcing Angola’s status in the diamond industry.
Original Source: www.africa.com
