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Angola,United Arab Emirates : ANGOLA POLISHING DIAMONDS sold $3.098m worth of cut diamonds to UAE in JUNE.

The Angolan Geology and Mines Ministry has announced in Luanda that the State-owned company Angola Polishing Diamonds has carried out exports of 4,462 carats of cut diamonds to the United Arab Emirates (UAE) in the month of June this year, totaling to US$3.098 million at an average price of US$694.5 for each carat.

Angola has recorded overall production of 753,000 carats of diamond in June 2016, contributed by 8 of the 12 operational mines in the country. With an average price of US$100 per carat, Angola has reported US$75.35 million in earnings in June from diamond sector.

The Catoca mine produced 620,500 carats of diamond, while the production rates of Camatue, Cuango, Chitotolo, Calonda, Somiluana, Luo and Lulo respectively stood at 41,200, 39,700, 20,000, 12,800, 9,000, 8,700 and 808 carats.

There has been production of US$74.9 million worth of the diamonds totaling to 736,700 carats at an average price of US$101 a carat in May this year, quantity and value have grown by 2.23% and 0.51% respectively.

The Government has reported 934.1 million kwanzas (US$5.6 million) in tax revenue, gathered as industrial tax and royalties from the diamond firms, representing an annual increase but decline of 11% over the May figures.

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Publication:Mena Report
Geographic Code:6ANGO
Date:Aug 4, 2016
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