Angola Diamond Production Expected to Fall in 2009

Diamond production in Angola is projected to drop to seven million carats in 2009, compared to 8.9 in 2008. The forecast was announced on Friday by Alberto Fancony, director of planning and finance for Empresa Nacional de Diamantes de Angola (Endiama).

Endiama is the government owned diamond company, which by law must be a partner in any diamond enterprise in Angola.  

Currently, Angola has 172 mining concessions in 14 of its provinces.

Fancony also said that Endiama was currently looking for the best solutions to resolve problems as a result of mineral deposits running out.

In 1975, Angola produced 991,630 carats, since then production has fluctuated reaching 4.25 million carats in 2000 and 9.45 million carats in 2006. These figures include industrial methods and traditional alluvial production.

For several years Angola has been attempting to reach an annual production level of 10 million carats, a goal it is yet to achieve.

Revenue from industrial and traditional production was valued at $729 million in 2000 and increased to $1.21 billion in 2006.