Angola: Diamond producers worried with low prices

Login

Register

http://www.clubofmozambique.com/

Angola: Diamond producers worried with low prices

9:43 CAT | 18 Jan 2016

In file Club of Mozambique / Endiama Chairman António Carlos Sumbula.

The diamond-producing countries have created an international team to make the advertising of diamonds in the world, at a time when the price of this product recorded a drop in world markets, said in Luanda the chairman of the Board of Directors of the National Diamonds Company (Endiama), António Carlos Sumbula.

According to him, this initiative will be launched in May this year and advertising will be made from an American office in Las Vegas.

Meanwhile, in collaboration with the diamond producing countries, the amount of diamond in the market is being reduced so as to increase demand, as well as the price, said António Sumbula on the occasion of the 35th anniversary of Endiama.

Despite the diamond sector is in crisis in terms of trading, the official said that Endiama has been managing the current situation with enough mastery, in collaboration with other producers in the world.

“We think that during this year we can reverse the situation”, he foresaw.

The strategy was to make a diagnosis to determine the causes of the crisis.

“We have concluded that the crisis is related to lack of publicity worldwide and the solution is to make advertising”, he said.

He said that Endiama will intensify campaigns to prospect for new alluvial deposits and kimberlite in collaboration with the multinational ALROSA and other partners, for the discovery of new kimberlites, since so far the known kimberlites represent only 10 percent of the existing total, missing to discover 90 percent.

Source: Angop