Five Auction Houses Interested in Angola Diamond Bourse
December 21, 20
(IDEX Online) - Five major players have shown interest in conducting auctions and tenders when the Angolan Diamond Bourse opens next year.
Angola, the world's sixth biggest diamond producer, brought in trading reforms in 2018 that allowed 120 companies to buy stock previously available to just eight "preferential customers".
Diamantino Azevedo, the country' minister of mineral resources and petroleum, has pledged to have a diamond exchange functioning in the capital Luanda by December 2021 as it attempts to capitalize on its most valuable resource.
Peter Meeus, (pictured) the industry veteran who oversaw the establishment of Dubai's bourse and served as its president, is acting as consultant for the project by Sodiam, the state-owned diamond company.
Mr Meeus said: "We have received interest from Bonas-Couzyn NV, First Element DTC (Pty) Ltd., I-Hennig & Co. Ltd, Koin International DMCC and Trans Atlantic Gem Sales DMCC and are now investigating which services would suit Angola's needs in the best possible way in accordance with the law of the country."
Mr Azevedo said: "Angola today has 14 active mining sites and has produced a total amount of 9.086 million carats in 2019 for an estimated value of US$1.263 billion.
"One of the main objectives of the Angolan Diamond Bourse is to put the enormous flow of these diamonds under one roof. It is also understood that a percentage of these diamonds could be sold through a professional and public tender."