Angola Still Aiming for 10 Million Carat Annual Production
March 10, 08
After failing to meet its 10 million carat production goal in 2006 and again in 2007, Angola is forecasting it will succeed in meeting its goal this year. In 2006, the country produced 9.4 million carats, and production rose to 9.7 million carats last year. "We are forecasting production of more than 10 million carats this year," Tiago Dias, head of strategic planning and investments for state-owned diamond company Endiama, told Reuters. Angola said 8.6 million carats were mined by the formal sector in 2007. Another 1.1 million carats were mined by artisanal producers. In 2007, Angola exported to Dubai 5.297 million carats, nearly 55 percent of its production. The stated value of the rough diamonds was $636.05 million, an average of $120.08 per carat.