Luanda - Angola produced for the first time in its history, this year, about 12 million carats of diamonds, which represents a degree of execution of more than 82% of the target defined in the National Development Plan (NDP) 2023-2027.
The fact was revealed on Thursday in Luanda by the Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, during the end-of-year greetings ceremony, and stressed that the country surpassed, until last November, the production barrier of the 10 million carats reached in previous years.
Without advancing the amount collected, as a result of this production, the minister said that, based on the potential identified and the strategic plan underway, Angola consolidates itself as one of the world leaders in the diamond market and reinforces its contribution to the national economy.
Regarding the increase in diamond cutting capacity, he highlighted the inauguration of another factory in the Saurimo Diamond Development Pole (Lunda-Sul), in January this year, bringing the country to eight cutting units.
He recalled that actions were underway for the installation of the Angolan Diamond Exchange, in addition to the implementation of the platform for holding auctions of this mineral.
As for the construction of the gold refinery in Luanda, he recalled that work is continuing, and its inauguration is scheduled for 2025.
For the other projects in the mining sector, Diamantino Azevedo assured that the conditions are being created for the construction of the Ornamental Stones Development Pole in Namibe, whose first stone will be laid in January next year.
He said that this year actions had been developed aimed at implementing the Digital Mining Registry of Angola (CMA), with the main objective of optimizing the licensing and mining registration process, helping to mitigate the problem of overlapping mining concession areas and increasing the feeling of transparency in the sector.
For his part, the chairman of the Board of Directors of Endiama, Ganga Júnior, considered the performance of the diamond activity throughout this year to be positive, as it reached the record in Angolan diamond production, suggesting the possibility of reaching close to 14 million carats, a volume that is close to the target expected in early 2024.
However, the manager stressed that the production boom was countered by the drop in price between 40% and 60% in the international market, a fact that negatively influenced the performance of diamond companies.
He pointed to the international situation, marked by the conflict between Russia and Ukraine, as well as the decline in the economy of most countries in the world and the injection of artificial or synthetic diamonds into the world market, as the main reasons behind the drop in the price of this product, a situation that is expected to improve in 2025.
Faced with this scenario, Ganga Júnior stressed the need to improve the communication and marketing strategy, to show or elucidate to consumers the real advantages of natural diamonds, in terms of wealth creation and solving economic and social problems.
On the other hand, Endiama's CEO announced the possibility of reassessing the current production of diamonds in Angola, so that the volume produced is in line with prices (balance between supply and demand).
Oil production
During the period from January to November this year, crude oil production in Angola averaged 1.134 million barrels per day, registering an increase of almost 7% compared to the target of 1.060 million barrels per day set in the 2024 General State Budget.
According to the Ministry of Mineral Resources, Oil and Gas (MIREMPET), this increase in production was driven by the start-up of new wells in blocks 0, 15, 15/06 and 17, in addition to a series of interventions in various concessions.
In addition, it is also worth mentioning the approval and publication of the legal and tax regime applicable to incremental production, through Presidential Legislative Decree No. 8/24 of 20 November, which aims to produce additional volumes above the base production agreed between the National Agency of Petroleum, Gas and Biofuels (ANPG) and the operators.
As part of the implementation of the 2020-2025 Hydrocarbon Exploration Strategy, the drilling of the 1st research well in Block 30, in the Namibe Basin, was carried out, and 2D and 4D seismic acquisition campaigns were carried out, in several blocks, in addition to accessibility and demining activities in the Etosha-Okavango Basin.
Regarding the implementation of the 2019-2025 Oil Concession Allocation Strategy, six oil blocks were awarded this year, making a total of 35 blocks awarded to date.
As for Natural Gas, the proposal for the Natural Gas Master Plan has been concluded, which after a public consultation, on October 21st, should be considered by the Council of Ministers this Friday (27). QCB/VC/DOJ
