Angola Sells $19.5m of Rough in Online Tender

(IDEX Online) - Sodiam, Angola's national diamond company, sold $19.5m of rough at a two-week online tender that closed yesterday

A total of 1,013 carats from its Catoca and Lulo mines were offered, including a diversified pack of 21 special stones and two pink diamonds. 

It was Sodiam's fourth tender, and the second this year. The last one, in June, raised a record $56.6m.

Buyers in November's tender were able to view goods in Luanda and submit remote bids. Sodiam said 29 companies took part.

In 2018 Angola introduced trading reforms that allowed 120 companies to buy stock previously available to just eight "preferential customers".

It exported over 7.7m rough carats in 2020 for a total value of just over $1bn, making it the world's third largest rough diamond producer by value.

Pic of rough diamonds courtesy Sodiam