Angola: Diamonds generate $264 million in Q3

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Angola: Diamonds generate $264 million in Q3

11:31 CAT | 06 Nov 2018

Diamonds generated $264 million (€231.7 million) in revenue for Angola in the third quarter of 2018, a decrease of $52.5 million compared to the same period last year.

The figures were issued on Tuesday by the head of Angola’s diamond trading company Sodiam, Eugénio Bravo da Rosa, at a meeting with operators in the sector.

Bravo da Rosa said the amount collected corresponded to 1.5 million carats marketed at an average price of $167.96 (€147) per carat.

Bravo da Rosa also said there had been an increase in the price of diamonds.

In its previous meeting with operators in June, Sodiam revealed that the country had invoiced over $300 million in the second quarter.

Angola expects to produce around 9 million carats of diamonds in 2018.

Source: Lusa