Luanda – According to the chairman of Endiama's Board of Directors, Ganga Júnior, the Diamond subsector raised a total of USD 1.5 billion in 2024, in Angola, representing a USD 1.4 bn drop compared to the previous year.
When speaking at the ceremony to present the company's last year results and 2025 prospects, which falls within Endiama's 44th anniversary, marked on Wednesday, Jan 15, the manager informed that this drop was due to the decrease in the diamond's average price per carat on the international market, currently set at USD 143 dollars.
In terms of production, Ganga Junior said that the country achieved, for the first time, the target of 13,096,000 carats, against the 8 million achieved in 2023.
He mentioned that, taking into account the historical production levels reached in 2024, the company still has 3 million carats in stock, due to lack of demand.
“We will have to think better on whether we maintain the prospect of an increase or adjust to market issues”, he considered.
On the other hand, the Endiama head announced the existence of 25 geological projects in effective activity, 5 of which are primary and 20 secondary, in addition to another 29 being promoted, due to a lack of technical and financial capacity.
During the past year, the diamond sub-sector generated 4,881 new jobs, reaching 28,826.
According to Ganga Junior, in 2024 the National Diamond Company (ENDIAMA) prioritized its internal structuring, from financial sanitation and improving the company's functioning.
He added that, by 2025, the company plans to produce 14.8 million carats of diamonds and raise more than USD 2billion.
This year, the first gold refinery will kick off, in Luanda, and also agri-business projects in the east of the country, are also in the pipeline, as part of the diversification of the company's activity areas. For the 1st initiative, USD 14 million has already been invested and USD 5 million for the 2nd.
The company's chairman also announced the intention to move forward, by the end of this year, with the transition of ENDIAMA from a Public Company to a Public Limited Company, with a view to the sale of 30% of the company, a process of which will be completed by 2027.
The company's integration into the Natural Diamond Defense Committee is also among the challenges to be taken into account, to face the sharp increase in the production of synthetic diamonds in some markets.
Founded on Jan 15, 1981, ENDIAMA E.P is a national company dedicated to the prospecting, exploration and sales of diamonds.
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