Angola aims to raise diamond output, seek major investors – Reuters

Angola is seeking to boost its diamond industry and begin production from the Luaxe deposit in the second quarter, Reuters reported March 2, citing Mineral Resources and Petroleum minister Diamantino Azevedo.

The Luaxe deposit, a joint venture with Russia's PJSC Alrosa located in the country's Lunda-Sul province, is targeting production of 5.7 million carats in 2023. In comparison, the African nation produced 8 million carats in full year 2020, which was 23% below its guidance for the year and lower than the 9.4 million carats produced in 2019.

Azevedo also told the news wire that state-owned diamond miner ENDIAMA EP was "instructed to negotiate with the biggest companies in the mining world to invest in the diamond subsector" in other projects, without giving details.

When asked if Angola would bring in Anglo American PLC unit De Beers SA and Rio Tinto as investors to its diamond industry, Azevedo confirmed negotiations "are going at a good pace," without elaborating if either miner were involved in the talks, according to the report.