Angola’s Endiama to Mine Diamonds Independently

Endiama, the Angolan state owned diamond corporation, will start mining diamonds independently. The move comes as part of an effort to boost the country’s financial benefits from its natural resources. By law Endiama is a partner in all diamond ventures in the country.

According to a report in the London based African Business, the Angolan government wants to maximize its diamond and oil reserves. Large investment by oil corporations are expected to double the country’s oil production over the next few years.

Endiama, and its daughter company Sodiam, played an unclear role in Angola’s diamond industry. At times it was a passive partner, in others, it a more prominent position.

In recent months the company has been studying the international market, focusing on polishing diamonds and how to market polished diamonds.