A record diamond production was achieved in Angola in 2024. Revenues also reached new heights, boosting the economy of a country that heavily relies on these precious stones.
Angola sold nearly 10 million carats of diamonds worth $1.5 billion in 2024, according to the Ministry of Mineral Resources.
These sales accounted for 9% of the commercial transactions of countries participating in the Kimberley Process.
This year, Angola produced approximately 12 million carats of diamonds for the first time in its history, achieving more than 82% of the target set in the 2023-2027 National Development Plan, said Minister of Mineral Resources, Petroleum, and Gas, Diamantino de Azevedo.
Meanwhile, the chairman of the board of the state-owned company Empresa Nacional de Diamantes de Angola (Endiama), which specializes in the exploration, extraction, processing, and commercialization of diamonds, Ganga Júnior, described the performance of the diamond sector as positive. A record production of Angolan diamonds was achieved, suggesting the potential to reach nearly 14 million carats, a volume close to the 2024 target.
However, he highlighted that the production boom was offset by a 40-60% drop in international market prices, negatively impacting the performance of diamond companies.
During the same period, global diamond production totaled 111,522,755 carats, valued at $12.7 billion. Russia led diamond production with over 37 million carats, followed by Botswana with over 25 million carats, and Canada with approximately 16 million carats.
Angola ranks as the fourth-largest producer of rough diamonds globally, with an industrial output of 9.8 million carats in 2023. This production came from the provinces of Lunda-Norte, Lunda-Sul, Bié, Cuanza-Sul, and Malanje.
