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ANGOLA : Angola's diamond production expected to total 10 million carats.

This year, Angola s diamond production is likely to total 10 million carats and give revenues of US$1.2 billion based on an average price per carat of US$120. If that level of production is attained the recovery, which was started in 2010 will go on. In 2010 diamond production amounted to 9.5 million carats and gave revenues of US$950 million.

In 2009, revenues from diamond sales came down to US$804.15 million subsequent to revenue of US$1.211 billion in 2008 because of a drop in price per carat, which was US$87 in 2009, than the US$136 in 2008. In 2012 Angolan diamond production is anticipated to total 11 million carats, which will give revenues of US$1.375 billion at an average price of US$125 per carat and that in 2013 production will increase to 11.7 million carats and revenue of US$1.521 million, at US$130 per carat. In 2014 production is likely to continue to increase to 12.8 million carats, revenues of US$1.792 billion and an average price of US$140 per carat.

Angola is part of the Kimberley Process, which is an inter-governmental initiative of the international diamond industry supported by the United Nations. It was established in 2002 to certify the origin of diamonds to avoid the sale of blood diamonds from clash areas.

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Publication:Mena Report
Geographic Code:6ANGO
Date:May 28, 2011
Words:247
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