TAGS FEBRUARY 2026 DUBAI MARKET & TENDER REPORT

 

There appears to be an improvement in both overall mood and confidence amongst buyers this month. We believe the reason behind this has been the recent behaviour of the leading producers, De Beers, Alrosa, and Angola. If we look at the last quarter of 2025, all 3 producers were distributing broadly, substantial volumes of goods, whether in boxes or special deals across all the major centres to anyone willing to buy. However, by the year end all 3 producers tightened distribution significantly. De Beers only sold a “special deal” to one customer, as did Alrosa, and Angola (Catoca) reduced from ten boxes to just three. Luelle followed suit reducing from ten boxes to just five. This served to tighten both supply and distribution.

The sale of De Beers by Anglo American continues with ongoing speculation as to which consortium will be the purchaser. Following the publication of De Beers full year figures released on 20 th Feb, there was a further $2.3 billion write down of the company. This is the third write down in as many years bringing the company to a $2.3 billion valuation.

We believe that once a clear leadership role is established, it will provide a further boost to confidence within the industry.

Rough

As seen recently larger sizes of rough +10cts remain in good demand, as do the 5-10ct ranges reflecting strong prices, where 2 carat polished is in good demand. 2-4 carat goods are also strong, but it seems this has still to be reflected fully in the polished prices of 4grs. The 3-6grs, which for several months have been less popular, have seen a resurgence in demand primarily since De Beers adjusted their prices last month, however again this demand is surprising because sales of pointer polished remain slow.

An area of significant change has been the smalls -3grs. While price in these areas remains key, we are seeing some demand. This is in stark contrast to the situation at the end of 2025, just 6 weeks ago, when customers had no appetite to even look at the goods.

Last week De Beers informed its customers that some goods could be refused prior to the Sight without negatively impacting the customers ‘demonstrated demand’ quota. These were primarily in some area -3gr +7, and -7, and all Near Gem and Industrial boxes. This might indicate that there will currently be no price adjustment made in these areas during the February Sight.

Overall, it is expected that again De Beers will keep distribution tight which will continue to help the market. Alrosa commenced sales this week and echoed the general sentiment, with prices in the 2-10ct ranges increasing by between 3-5%. Mid-range sizes 4-6grs reduced by 2-3%, to fall in line with market prices. -9 sizes have also been reduced to reflect current market price.

All these adjustments are broadly aligned to market demand, so although perhaps fragile, as polished sales are slow, the market seems to be finding an equilibrium.

ODC sales run from 16 th – 25 th Feb, where they will present 972,000 carats, including some ROM parcels purchased last Oct.

Polished

Polished prices seemed to have slowed their decline in several areas, noticeably 0.30-1.00 carat sizes. Overall, polished markets at retail level are seasonally quiet. In US there has been demand for 1.50 carat and larger in Rounds and Fancy shapes, and Valentines sales look positive. Indian polished demand slowed slightly due to high gold prices, and China remains weak.

The Interim Agreement framework, between US and India, announced in early February, under which zero tariffs will be applied to diamonds and coloured gemstones entering the US from India has been unanimously welcomed. Currently tariffs have been reduced to 18% (effective March 2026) which will provide immediate relief and once the agreement is concluded full zero tariff should revive competitiveness. The effect of tariffs last year resulted in a 60% fall in polished diamonds exports to the worlds leading market. It is expected that India may pause exports to the US, while final terms are discussed. Tariffs on finished jewellery will remain at 18%.

TAGS Tenders

We presented our latest tender from 16 th – 20 th Feb. The event consisted of a full range of size categories and qualities with an emphasis on +5 carats. The value was more than $16m, and we welcomed well over 100 companies to view. We concluded a sell through of 60% to a total of 46 international companies. As expected, the strongest bidding took place in the larger sizes and higher qualities.

Our regular tender of high quality Southern African production commences on 1 st March until 6 th March, and this will be followed by another Zimbabwe production from ZCDC, which will run from 8 th -12 th March.

Source: DCLA

Angola Diamond Mines Generate $1.8 Billion in Revenue Despite Pricing Pressures

 

Angola’s diamond sector delivered a robust production and sales performance in 2025, generating approximately $1.8 billion in rough-diamond revenue, even as global trading conditions remained challenging.

According to Sodiam, Angola’s state-owned diamond marketing and sales authority, the country exported 17.2 million carats of rough diamonds during the year, representing a 69% increase compared with 2024. Total sales volume rose by 70% to 17.7 million carats, while overall sales value increased by 21% year-on-year, highlighting Angola’s growing capacity to bring rough supply to the international market.

Sodiam attributed the strong volume growth to improved sales management practices, including tighter inventory control and strategies aimed at preventing excess stock accumulation. These measures helped stabilise cash flow and improve market access at a time when demand across parts of the midstream remained under pressure.

Angola’s rough diamond output is sourced primarily from major mining operations, including the Catoca, Luele, and Lulo deposits. In particular, increased production at the Luele mine played a pivotal role in boosting export volumes and strengthening Angola’s position as one of Africa’s leading diamond producers.

“These figures reflect a significant expansion in the country’s capacity to place its diamonds on the international market,” Sodiam said, pointing to operational efficiencies and sustained investment in mining infrastructure.

Despite the strong gains in volume and revenue, average realised prices declined by 29% on a per-carat basis, underscoring ongoing pricing pressure in the global rough diamond market. The price contraction reflects softer demand in certain size and quality categories, as well as continued caution among manufacturers and traders.

For the wider diamond industry, Angola’s 2025 performance illustrates a clear divergence between volume-led growth and price dynamics, reinforcing the importance of disciplined production, transparent sales mechanisms, and accurate grading and valuation standards as market conditions continue to evolve.

Source: DCLA

Clock is Ticking on Luanda Accord, says AWDC

The Antwerp World Diamond Centre (AWDC) has publicly expressed frustration over the stalled $100m-plus global campaign to promote natural diamonds, agreed in Angola almost four months ago.

It says there is no time to waste in implementing the breakthrough Luanda Accord, in which African diamond producers pledged one per cent of their rough export sales to fund promotions by the Natural Diamond Council (NDC).

They call on producer nations, the NDC, and industry partners worldwide to take the next decisive step: to release the pledged funds, to activate the agreed framework, and to begin the campaign.

“Luanda was supposed to be the turning point,” say AWDC chairman Isi Morsel and vice chairman Ravi Bhansali (pictured) in a hard-hitting open letter published today (9 October). “It can still be – but only if we move from promises to action.

“The agreements are signed. The budgets are pledged. Yet implementation has stalled. The funds have not been transferred. The campaign has not begun. And the clock is ticking.”

The Luanda Accord, described as a potential turning point for the sector, aims to rebuild consumer trust and interest in natural diamonds over lab growns, by emphasizing their origin, authenticity, and community impact.

“We understand that bureaucratic processes take time,” say Morsel and Bhansali in their letter. “But time is exactly what we do not have. Every delay weakens the credibility of the commitment we all made together.

“Let us be clear: this is not about assigning blame. It is about living up to a collective commitment. We therefore urge all signatories to the Luanda Accord – producer nations, the Natural Diamond Council, and industry partners worldwide – to take the next decisive step: release the pledged funds, activate the agreed framework, and begin the campaign.”

Full text of the letter:

Luanda Was a Breakthrough. But Diamonds Can’t Wait Forever.

By Isi Morsel and Ravi Bhansali – Chairman and Vice Chairman, Antwerp World Diamond Centre (AWDC)

A few months ago in Luanda, something remarkable happened.

For the first time in decades, our industry stood united – producers, manufacturers, traders, and policymakers. Africa’s leading diamond nations. India’s powerful trade bodies. Belgium’s leadership. The UAE’s dynamic hub. We came together, and we signed.

The Luanda Accord was not just another declaration. It was a concrete commitment to act – to protect and promote the story of natural diamonds through a global, African led marketing initiative. Producer countries pledged to contribute 1% of their rough export revenues to a collective fund, exceeding $100 million, to be managed transparently by the Natural Diamond Council. The goal: to educate consumers, inspire the next generation, and clearly distinguish natural diamonds from synthetics.

That day in Luanda, there was real momentum. Real hope. For once, words were turning into action.

But today, four months later, that momentum is fading.

The agreements are signed. The budgets are pledged. Yet implementation has stalled.

The funds have not been transferred. The campaign has not begun. And the clock is ticking.

We are entering the most crucial season of the year – the global gifting season – when the world looks for symbols of love, authenticity, and permanence. If we don’t act now, we will miss this moment. And in our industry, missed moments don’t just mean lost sales – they mean lost livelihoods.

Because natural diamonds are not just luxury products. They are the economic backbone of producing nations. They build schools in Botswana, fund hospitals in Angola, feed families in Namibia, and provide opportunities for thousands of polishers and artisans from Surat to Johannesburg.

That is the real story of natural diamonds – a story of people, pride, and purpose. A story no laboratory can replicate.

But the world won’t hear that story unless we tell it.

While we hesitate, lab-grown diamonds are flooding the market with billions in advertising. Algorithms are replacing emotion with price. Influencers — often uninformed — are redefining the narrative in ways that undermine everything our industry stands for.

Luanda was supposed to be the turning point. It can still be – but only if we move from promises to action.

We understand that bureaucratic processes take time. But time is exactly what we do not have. Every delay weakens the credibility of the commitment we all made together.

Let us be clear: this is not about assigning blame.

It is about living up to a collective commitment.

We therefore urge all signatories to the Luanda Accord – producer nations, the Natural Diamond Council, and industry partners worldwide – to take the next decisive step: release the pledged funds, activate the agreed framework, and begin the campaign.

Luanda can still stand as a true milestone – the moment when our industry turned unity into action.

Because the diamond story is, above all, a human story. And the world needs to hear it – now.

Yours Sincerely,

Isidore Morsel

President AWDC

Ravi Bhansali

Vice President AWDC

Source: DCLA

Administration-led DOCA offers lifeline to Lucapa

Lucapa Diamond Company, the Perth-based miner behind the Lulo alluvial mine in Angola and the Merlin project in Australia, has secured a potential lifeline through a planned Deed of Company Arrangement (DOCA) that promises full repayment to creditors and a partial return to shareholders.

Administrators Richard Tucker and Paul Pracilio of KordaMentha were appointed in May after Lucapa faced plummeting diamond markets and operational strains. They recently reached a binding term sheet with Dubai-based Gaston International, part of the broader Jemora Group, setting the stage for a restructuring that would transfer Lucapa’s shares to the proponent, subject to creditor and court approvals.

Under the proposed DOCA, creditors stand to receive 100c on the dollar, while shareholders may receive up to A$0.018 a share. That potential payout exceeds Lucapa’s last traded share price of around A$0.014 a share.

The company has struggled amid a downturn in diamond prices.

Gaston International invests heavily in mining globally, with a particular affinity for critical minerals and gemstones. Its interest in Lucapa could give the company access to high-value assets while securing its Angolan and Australian operations.

KordaMentha’s dual-track recapitalisation and sale process hinges on creditor approval at meetings scheduled for August 20, court clearance under a key provision of the Australian Corporations Act, and any regulatory consents. If successful, the DOCA would preserve Lucapa’s operations and deliver better outcomes than liquidation, the administrators stated.

Source: Miningweekly

Sanctioned Russia Sells Shares in Angolan Diamond Mines

Angola has announced that Russian shares in two of its major diamond mines have been sold to an Omani-backed fund as a result of international sanctions, a government official said.

Russia’s diamond giant Alrosa was until now a joint owner of Angola’s Catcoa mine, the fourth-largest in the world, and Luele mine, in partnership with the southern African nation’s state-owned company Endiama.

The European Union imposed sanctions on Alrosa, also state-owned, and its CEO in January as part of a ban on diamond imports over the Ukraine war.

This led to “a block on the commercialization” of diamonds from Catcoa and Luele mines, Angola’s Minister of Mineral Resources and Petroleum Diamantino Azevedo said Thursday.

After “negotiations between the Angolan and Russian governments, as well as between Endiama and its partner,” Alrosa has now “officially ceased operating in Angola,” Azevedo said.

The company has been “replaced by Maden International Group, a subsidiary of the Sovereign Fund of the Sultanate of Oman,” the minister added.

He said the transition process was “already underway and should be conducted swiftly.”

The sale comes as the United States President Joe Biden was expected to travel to Angola on Dec. 2.

The visit, his first to Africa, underscores the strategic importance of the oil and mineral-rich country where a massive U.S.-led project is underway to export critical minerals.

Source: Themoscowtimes

Angola Seizes 710 Rough Diamonds from Three Guineans

The Criminal Investigative Service (SIC) in Angola seized 710 diamonds of different carats on Sunday in Lucapa, a municipality in the northeastern Lunda-Norte province of Angola.

According to Graciano Lumanhe, the SIC spokesperson in Lunda-Norte, three individuals from Guinea Conakry were found in possession of the diamonds.

Angola Seizes 710 Diamond Stones From Three Guineans
In addition to the diamonds, the officers also discovered a diamond weighing scale, two calculating machines, magnifying glasses, a sieve, and $860 and 68,000 kwanzas in cash during the operation.

All the evidence has been submitted to the Office of the Public Prosecutor as part of the preparations for criminal proceedings against the three suspects.

Source: DCLA

IDEX Price Report for 1 May: Prices Show Signs of Stabilizing

A diamond held by dop is polished on rotating automatic cast iron lap

Prices showed signs of stabilizing during April, with an even mix of increases and decreases in many sizes, especially fancy cuts. Overall there were more clusters of price rises than we have seen of late.

It’s too early to positively identify a clear upward trend, but the “end of the lab grown boom” is arguably having an impact. Lab grown prices are now so low – in some case just 10 per cent of natural – that many jewelers are opting not to stock them in inventory and are only buying them on consignment.

In addition the G7 sanctions, in place since 1 March, are now starting to bite, and to slowly push up prices.

They have effectively restored the De Beers monopoly, although its rough production is down by almost a quarter so far this year (as is Rio Tinto’s) and rough sales remain sluggish (down 18 per cent on last year). Meanwhile polished exports from India fell by 27 per cent during March to $1.2bn

Highlighted changes

Rounds

1.00-1.24 ct. D-F / VVS2-VS1 +4-5%, F-I / IF-VVS1 -1-7%

2.00-2.99 ct. D-G / VVS2-VS2 +2.5-5%, G-N / IF-VVS1 -2-5%

4.00-4.99 ct. E-I / VS1-2 +1-4%, K-M / VS2-SI1 -1-2%

Fancy Cuts

1.25-1.49 ct. D-I / VVS1-SI1 -1-6.5%

1.50-1.99 ct. D-E / VVS1-VS2 +1-5%, I-J / IF-VS2 -4.5-5.5%

2.00-2.99 ct. D-H / VVS2-VS2 +2.5-3%, H-N / IF-VVS1 -2-5%

Source: DCLA

Solid Performance as Lucapa Sells $102m Rough in 2023

Lucapa reported a slight increase in total rough sales for FY2023 in what it described as a solid performance.

The Australian miner announced revenues of $102.2m, up by 1 per cent on the previous year.

Q4 earnings from its two mines – Lulo in Angola and Mothae in Lesotho – slipped by 1 per cent to $40.8m.

During the year Lucapa sold 11 diamonds from Lulo that fetched a total of $32.7m at two Q4 tenders in Q4. It also recovered two Type IIa diamonds from Lulo, a 208-ct and a 235-ct, the second largest recovery since commercial operations started in 2015.

“Both mines delivered a solid performance against processing and production targets in Q4 and we are pleased with the full year results which saw group guidance achieved,” said managing director Nick Selby.

Mothae performed well despite experiencing a lower dollar per carat average in Q4, which impacted its overall diamond price for the year. Lulo had a good run which saw its high-value recoveries attract firm prices at tender.”

Lulo recovered fewer carats than forecast (30,585) but achieved an average $2,700 per carat, well up on the forecast of $2,300. Mothae recovered more carats that forecast but saw average price per carat down from guidance of $1,000 to an actual $775.

Lucapa said in its ASX announcement that the overall diamond price index began to trend upwards towards the end of 2023, because of India’s two-month moratorium and EU sanctions on Russian goods.
“Tightening economic conditions imposed by central banks and a surge in inflation continues to impact discretionary spending on items such as diamond jewellery,” it said.

“However according to media reports at the end of 2023, there are signs the US market is recovering, however the Chinese market remains slow.”

Lucapa holds a 40 per cent stake in Lulo. The remainder is owned by Angola’s national diamond company Endiama (32 per cent) and by private Angolan company Rosas & Petalas (28 per cent). Lucapa holds a 70 per cent stake in Mothae. The government of Lesotho holds the remaining 30 per cent.

Source: DCLA

Angola considers dual listing for diamond mining firm Endiama

          

                        Angola diamond mining

Angola is aiming for a dual listing for state-owned diamond miner Endiama, reported Reuters citing Angola Mines Minister.

The country initially plans an initial public offering for a stake between 5% and 10% in the company on the Angolan stock exchange, following which it will seek a secondary foreign listing.

This move forms part of the OPEC member country’s efforts to reform and privatise the economy, including a partial listing of national oil company Sonangol.

Russian diamond mining company Alrosa has a joint venture with Endiama in Angola.

Following Russia’s invasion of Ukraine last year, sanctions were imposed by Western nations on several companies, including Alrosa, subsequently impacting Endiama’s operations.

Angola Minister of Mineral Resources, Oil and Gas Diamantino Azevedo told the news agency on the sidelines of a mining conference in Cape Town: “Sanctions are there and there is some impact.”

Azevedo said the government is considering measures required to avoid impacts on diamond production.

The minister noted that the government, however, could go ahead with an initial public offering for Endiama following its restructuring.

Azevedo said: “Our goal is (to list) till 30% but will start maybe with five or 10%.”

According to Endiama’s document at the mining conference, the firm’s production was about 8.75 million carats for 2022.

Between 2022 and 2027, Endiama intends to more than double its diamond production to 17.5 million carats.

In September 2022, Bloomberg News reported that Angola was looking to sell its 30% stake in Sonangol within the next five years.

SOurce: mining-technology

Lucapa Unearths 170ct. Pink from Lulo

 Lucapa Unearths 170ct. Pink from Lulo

Lucapa Diamond Company has recovered one of the largest pink diamonds in history: a 170-carat stone from the Lulo mine in Angola.

The type IIa rough, named the Lulo Rose, is “believed to be the largest pink diamond recovered in the last 300 years,” Lucapa said Wednesday. It is also the fifth-largest diamond from Lulo, and the deposit’s 27th over 100 carats since commercial production began in 2015. Lucapa plans to sell the diamond through an international tender conducted by Angolan state diamond-marketing company Sodiam, it noted.

“The record-breaking Lulo diamond field has again delivered a precious and large gemstone, this time an extremely rare and beautiful pink diamond,” said José Manuel Ganga Júnior, chairman of the board of state-owned Endiama, one of Lucapa’s partners in the deposit. “It is a significant day for the Angolan diamond industry.”

In addition to the pink, Lulo is also the source of Angola’s largest diamond, a 404-carat rough named the 4th February Stone.

Lucapa has begun bulk sampling at “priority kimberlites” as it searches for the primary source of Lulo’s diamonds, managing director Stephen Wetherall added.

Source: DCLA

Two diamonds weigh over 100 carats each found in eastern Angola’s mine

 

Dundo, Angola. Two diamonds, one 131-carat and the other 133-carat, were found in Angola’s Lulo mine in eastern Lunda Norte province, national diamond company Endiama announced here Friday.

The white colored gems were found in block 46 and 21 with more than 100 carats discovered in that mine, according to a note from Endiama.

Since the beginning of its exploration in 2010, the Lulo mine is known for its rare and high quality diamonds.

The mine’s blocks 6 and 8 are responsible for the production of 13 of the 15 stones with over 100 carats from Lulo mine, including the largest diamond ever found in Angola in 2016, with 404.2 carats.

The Lulo project, with a concession area of 3,000 square km, is operated within the scope of a partnership in which Endiama holds 32 percent, Lucapa Diamond Company Limited 40 percent, and the operator Rosas & Petalas 28 percent.

Source: DCLA

Two diamonds weigh over 100 carats each found in eastern Angola’s mine

 

Dundo, Angola. Two diamonds, one 131-carat and the other 133-carat, were found in Angola’s Lulo mine in eastern Lunda Norte province, national diamond company Endiama announced here Friday.

The white colored gems were found in block 46 and 21 with more than 100 carats discovered in that mine, according to a note from Endiama.

Since the beginning of its exploration in 2010, the Lulo mine is known for its rare and high quality diamonds.

The mine’s blocks 6 and 8 are responsible for the production of 13 of the 15 stones with over 100 carats from Lulo mine, including the largest diamond ever found in Angola in 2016, with 404.2 carats.

The Lulo project, with a concession area of 3,000 square km, is operated within the scope of a partnership in which Endiama holds 32 percent, Lucapa Diamond Company Limited 40 percent, and the operator Rosas & Petalas 28 percent.

Source: DCLA

Lucapa Diamond Company sells Angola diamonds for $9M

 

Lucapa Diamond Company has pocketed a neat $9 million from the latest diamond sales from its Lulo alluvial mine in Angola.

The diamonds were sold through Lucapa’s partners, Empresa Nacional de Diamantes and Rosas & Petalas, for an average US$1550 per carat.

With 4269 carats sold, this brings the total proceeds from the sale to US$6.6 million.

Importantly, this sale price is higher than the year-to-date average of US$1371 per carat.

So far, Lucapa has sold just under 20,400 diamond carats over the 2020 calendar year for US$28 million.

Angola and Lesotho diamond exploration
Lucapa produces diamonds from both the Lulo mine in Angola and the Mothae kimberlite mine in Lesotho a small kingdom completely landlocked by South Africa.

The company faced some turmoil earlier this year when COVID-19 restrictions in Angola and South Africa dealt a blow to Lucapa’s operations.

Nevertheless, operations were back up and running at both mines soon after the end of the September quarter.

So far, Lucapa’s Lulo mine has produced 15 100 carat plus diamonds making it one of the highest dollar-per-carat alluvial diamond producers in the world.

At Mothae, Lucapa has produced over 30,000 carats of diamonds in just one year of production, with three diamonds at over 100 carats each.

Source: DCLA

Lucapa Diamond Company sells Angola diamonds for $9M

 

Lucapa Diamond Company has pocketed a neat $9 million from the latest diamond sales from its Lulo alluvial mine in Angola.

The diamonds were sold through Lucapa’s partners, Empresa Nacional de Diamantes and Rosas & Petalas, for an average US$1550 per carat.

With 4269 carats sold, this brings the total proceeds from the sale to US$6.6 million.

Importantly, this sale price is higher than the year-to-date average of US$1371 per carat.

So far, Lucapa has sold just under 20,400 diamond carats over the 2020 calendar year for US$28 million.

Angola and Lesotho diamond exploration
Lucapa produces diamonds from both the Lulo mine in Angola and the Mothae kimberlite mine in Lesotho a small kingdom completely landlocked by South Africa.

The company faced some turmoil earlier this year when COVID-19 restrictions in Angola and South Africa dealt a blow to Lucapa’s operations.

Nevertheless, operations were back up and running at both mines soon after the end of the September quarter.

So far, Lucapa’s Lulo mine has produced 15 100 carat plus diamonds making it one of the highest dollar-per-carat alluvial diamond producers in the world.

At Mothae, Lucapa has produced over 30,000 carats of diamonds in just one year of production, with three diamonds at over 100 carats each.

Source: DCLA

Population denounces illegal extraction of diamonds in Angola

Luanda, Mar 4 (Prensa Latina) Popular claims in southern Angola warned of the illegal extraction of diamonds and other natural resources in localities of Cuando Cubango, local press reported on Wednesday.
According to the Jornal de Angola daily, the warnings came from the municipality of Mavinga, where the population observed a group of foreigners in clandestine mining activities.

Cited by the newspaper, the province’s governor Julio Bessa said he knew the claims of the population and promised that personnel from the Ministries of Mineral and Petroleum Resources, and Interior will carry out the relevant investigations to adopt measures.

From the Caiundo commune, 135 kilometers from the city of Menongue, reports also arrived on the extraction of various mineral resources, including mercury, confirmed the governor, who assured he was not in doubts about the complaints’ veracity.

As he acknowledged, another similar concern is the uncontrolled exploitation of forest resources in the province, rich in biodiversity, wood, diamonds, copper, gold, bronze, quartz and iron.

The aforementioned irregularities are a concern of the national authorities, which launched Operation Transparency in September 2018, focused primarily on preventing and punishing crimes related to diamond trafficking and immigration.

As a result of the plan, in September 2019 the executive reported on the seizure of about 35,000 carats in one year.

Source: DCLA

Population denounces illegal extraction of diamonds in Angola

Luanda, Mar 4 (Prensa Latina) Popular claims in southern Angola warned of the illegal extraction of diamonds and other natural resources in localities of Cuando Cubango, local press reported on Wednesday.
According to the Jornal de Angola daily, the warnings came from the municipality of Mavinga, where the population observed a group of foreigners in clandestine mining activities.

Cited by the newspaper, the province’s governor Julio Bessa said he knew the claims of the population and promised that personnel from the Ministries of Mineral and Petroleum Resources, and Interior will carry out the relevant investigations to adopt measures.

From the Caiundo commune, 135 kilometers from the city of Menongue, reports also arrived on the extraction of various mineral resources, including mercury, confirmed the governor, who assured he was not in doubts about the complaints’ veracity.

As he acknowledged, another similar concern is the uncontrolled exploitation of forest resources in the province, rich in biodiversity, wood, diamonds, copper, gold, bronze, quartz and iron.

The aforementioned irregularities are a concern of the national authorities, which launched Operation Transparency in September 2018, focused primarily on preventing and punishing crimes related to diamond trafficking and immigration.

As a result of the plan, in September 2019 the executive reported on the seizure of about 35,000 carats in one year.

Source: DCLA

Angola’s Rough-Diamond Revenue Rises in 2019

Revenue from Angola’s national diamond-trading company, Sodiam, rose 6% in 2019 as the company sold a higher volume of rough goods.

Proceeds for the year came to $1.3 billion from the sale of 9 million carats of rough diamonds, compared with 8.4 million carats in 2018, the government said in a Facebook post last week.  That offset a 10% drop in the average price to $137 per carat for the year. 

The increase came despite weakness in the rough-diamond market in 2019, with many miners, including De Beers and Alrosa, reporting a decrease in sales.

Angola implemented a new, more competitive diamond-trading policy that allows miners to offer 60% of their production to clients of their choice rather than selling through the state trading company.

In the fourth quarter, Sodiam sold 3 million carats of rough for $409 million, at an average price of $136 per carat.

Source: DCLA

Angola’s Rough-Diamond Revenue Rises in 2019

Revenue from Angola’s national diamond-trading company, Sodiam, rose 6% in 2019 as the company sold a higher volume of rough goods.

Proceeds for the year came to $1.3 billion from the sale of 9 million carats of rough diamonds, compared with 8.4 million carats in 2018, the government said in a Facebook post last week.  That offset a 10% drop in the average price to $137 per carat for the year. 

The increase came despite weakness in the rough-diamond market in 2019, with many miners, including De Beers and Alrosa, reporting a decrease in sales.

Angola implemented a new, more competitive diamond-trading policy that allows miners to offer 60% of their production to clients of their choice rather than selling through the state trading company.

In the fourth quarter, Sodiam sold 3 million carats of rough for $409 million, at an average price of $136 per carat.

Source: DCLA

Lucapa to Sell Large Stones

Lucapa Diamond Company will sell six large stones weighing a total of 449 carats from its Lulo mine in Angola after an overhaul of the nation’s mining laws prompted it to delay the sale, it said.

The Angolan government introduced reforms to its diamond sector in the first half of the year to help boost foreign investment. Those measures included a new marketing policy for Angolan diamonds, and the option of offering goods for sale in locations such as Antwerp.

Anticipating the changes, Lucapa has been holding back a selection of large stones from previous sales, and will now sell them under the new policy, it explained Friday. These include six type IIa white diamonds weighing 114 carats, 85 carats, 75 carats, 70 carats, 62 carats and 43 carats, as well as a 46-carat pink diamond.

“The discussions with our Angolan partners regarding the policy changes taking place in the Angolan diamond sector have reached a stage where we are now able to plan for the sale of these large, premium-value Lulo diamonds held over from previous sales,” Lucapa managing director Stephen Wetherall said. “We look forward to marketing these exceptional diamonds as soon as the necessary arrangements are put in place to continue showcasing Angolan diamonds to the world.”

The decision to delay the tender for those stones had a negative impact on Lucapa’s first-half results, the company added. Its losses grew to $4.6 million for the period, versus a loss of $1.2 million a year earlier.
Even so, Lucapa’s sales rose 3% year on year to $15.9 million in the first half, while production for the same period climbed 15% to 9,566 carats. The average price of rough diamonds from Lulo rose 1% to $1,642 per carat. Rough-diamond inventory from the asset grew 61% year on year to 2,755 carats as of June 30, the miner reported.

Lucapa’s most recent sale of 2,531 carats of rough from Lulo fetched $2.5 million, achieving an average price of $985 per carat, the company noted.

Image: 46-carat pink Lulo diamond. Credit: Lucapa.

Source: DCLA

Lucapa to Sell Large Stones

Lucapa Diamond Company will sell six large stones weighing a total of 449 carats from its Lulo mine in Angola after an overhaul of the nation’s mining laws prompted it to delay the sale, it said.

The Angolan government introduced reforms to its diamond sector in the first half of the year to help boost foreign investment. Those measures included a new marketing policy for Angolan diamonds, and the option of offering goods for sale in locations such as Antwerp.

Anticipating the changes, Lucapa has been holding back a selection of large stones from previous sales, and will now sell them under the new policy, it explained Friday. These include six type IIa white diamonds weighing 114 carats, 85 carats, 75 carats, 70 carats, 62 carats and 43 carats, as well as a 46-carat pink diamond.

“The discussions with our Angolan partners regarding the policy changes taking place in the Angolan diamond sector have reached a stage where we are now able to plan for the sale of these large, premium-value Lulo diamonds held over from previous sales,” Lucapa managing director Stephen Wetherall said. “We look forward to marketing these exceptional diamonds as soon as the necessary arrangements are put in place to continue showcasing Angolan diamonds to the world.”

The decision to delay the tender for those stones had a negative impact on Lucapa’s first-half results, the company added. Its losses grew to $4.6 million for the period, versus a loss of $1.2 million a year earlier.
Even so, Lucapa’s sales rose 3% year on year to $15.9 million in the first half, while production for the same period climbed 15% to 9,566 carats. The average price of rough diamonds from Lulo rose 1% to $1,642 per carat. Rough-diamond inventory from the asset grew 61% year on year to 2,755 carats as of June 30, the miner reported.

Lucapa’s most recent sale of 2,531 carats of rough from Lulo fetched $2.5 million, achieving an average price of $985 per carat, the company noted.

Image: 46-carat pink Lulo diamond. Credit: Lucapa.

Source: DCLA