Angola to take on diamond market with 20% boost

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Angolan government plans to increase production by 20% to 10m carats.

The Angolan government has announced plans to increase its diamond production output by 20% in 2014, in order to reach an annual target of 10 million carats.

Government officials stated that the Catoca mine – the largest mine in Angola – was ready to increase output after undergoing maintenance work in April 2014.

According to the Kimberley Process, the country produced 9.36m carats valued at US$1.28bn (£748.7m) in 2013.

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Angola’s geology and mining minister Francisco Queiroz, told the African Review: “This year, we have an ambitious target of 9.5m carats in production and 550,000 carats in artisanal production, which means we have to produce 10m carats.”

Angola is the fourth largest producer of diamonds in the world, with 87% of diamonds mined from Catoca. The diamond industry constitutes 12% of the nation’s GDP and has significantly increased since the civil war ended in the country in 2002.

Since 2006, the southern African country has maintained a steady production of 8m carats annually, but only 40% of the diamond-rich territory has been explored.

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