The National Diamond Trading Company of Angola (SODIAM) raised 6.5 million dollars with the sale of 226 carats, the public company announced on Thursday.
The company explains that it has tendered, at auction, nine special rough diamond stones produced by the mining companies of Lulo, Kaixepa and Sangamina project.
The executive director of SODIAM, José Silva, said that this auction takes place in the culmination of a negative year for all diamond industry worldwide, where prices continue to decline due to a sharp drop in demand and high stock levels in the main squares.
“The Angolan mining companies have opted for the sale of special stones in the auction mode, so as to be able to take greater advantage of competitive offers and thus be able to face the current pressure on their treasury. It is expected that by 2025, some slight recovery in demand will begin to be recorded, given the prospects of recovery the US economy is presenting in recent weeks”, he said.
The results collected from this auction are distributed by the companies of Lulo (2.7 million dollars), Kaixepa (656 thousand dollars) and Sangamina (3.2 million dollars). A total of 18 companies participated in the auction, representing the main diamond centers and centers worldwide.
Source: Forbes África Lusófona
