Angola has set a new record in diamond production, reaching 12 million carats in 2024, marking the first time it has surpassed 10 million carats. This surge in production is largely attributed to recent legal and tax reforms aimed at increasing transparency within the sector and attracting more investment, according to Diamantino Azevedo, Angola's Minister of Mineral Resources, Oil and Gas, in a statement on the ministry’s Facebook page.
The country's diamond output comes from several key mines, including Catoca, Lulo, and Leule. In addition to the impressive production figures, the ministry is pushing forward with several initiatives, including the development of an Angolan diamond exchange and the establishment of a gold refinery in Luanda. They are also working on a manufacturing center in Namibe Province.
“We are beginning to see the fruits of the efforts we’ve invested since 2017,” Azevedo remarked, signaling a positive outlook for the future of Angola’s diamond industry.