Secretary of State for Mineral Resources Janio Correa Victor said production increased by 23.2% at the half-year mark, though no comparative figures were provided for the same period in 2024. He attributed the rise in output to improved operational stability at the Catoca Mining Company and the Luele Mining Company. Both firms are jointly owned by Angola’s state-owned diamond company Endiama and Taadeen Investment, a subsidiary of Oman’s sovereign wealth fund.
Taadeen Investment became Endiama’s new partner in 2024, replacing Russian miner Alrosa, which withdrew from Angolan diamond ventures after being affected by international sanctions. The Catoca and Luele mines are among the country’s most productive sites and play a central role in Angola’s plan to increase production and diversify its mineral exports.
Despite the rise in production volumes, Victor noted that the value of Angola’s rough diamond exports fell by 14% during the nine-month period. He explained that global diamond prices have declined sharply, affected by competition from synthetic diamonds, economic uncertainties, and changes in international trade policies. The global diamond market has also been influenced by reduced demand in major consuming regions, including slower recovery in China’s retail sector since the Covid-19 pandemic.
Angola, sub-Saharan Africa’s second-largest oil producer after Nigeria, has steadily expanded its diamond mining operations since the end of its civil conflict in 2002. The sector, previously linked to conflict-related diamond trade, has since undergone major reforms to improve transparency and attract foreign investment. The government has prioritized increasing value-added production, including local cutting and polishing, to strengthen the country’s position in the global diamond supply chain.
In a separate development, Angola has reportedly expressed interest in acquiring a majority stake in De Beers, which has been listed for sale by its parent company Anglo American as part of a restructuring effort. The potential bid could create competition with Botswana, another major producer seeking greater control over the global diamond miner.
Officials believe that sustained production growth, technological investment, and partnerships with international investors will help Angola meet its 2025 production goal. The government continues to focus on modernizing its mining sector to ensure long-term growth, improve export earnings, and enhance the competitiveness of Angolan diamonds in the global market despite ongoing price challenges.
