COVID-19: Angola cut 2020 diamond production by 2m carats

COVID-19: Angola cut 2020 diamond production by 2m carats

The Chief Executive Officer, CEO of the National Diamond Company Endiama, Angola, Ganga Junior has said that the country will produce less than two million carats, rather than the eight million previously expected for 2020, due to COVID-19 pandemic.

The official told the press that the drop in production “is being caused by the COVID-19 pandemic’’.

But the company continues to work on its restructuring to increase production.

In 2019, Angola’s 12 mining companies produced 9.2 million carats.

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Angola expects to increase diamond production to 14 million carats by 2022, which could make the country the third-largest diamond producer in the world.

Gross revenue from Angola’s diamond sector in 2019 reached $1.26 billion, up 10 per cent, or $34.7 million, compared with that of 2018.

The southern African country expects revenue from the diamond sector to rise to $1.5 billion by 2022.

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