Angola has diamond reserves estimated at 732 million carats, potentially worth $140 billion (125.7 billion euros) at an average price of $200 per carat, according to Endiama, Angola’s National Diamond Company.
Miguel Vemba, Endiama’s director of Mining Operations, highlighted that over 90% of these reserves are in primary deposits. Speaking at UNESCO’s 10th African Engineering Week in Luanda, Vemba stressed the need for efficient recovery mechanisms, including artificial intelligence, to enhance reserve extraction and reduce study time.
Vemba also announced that Endiama plans to start its own production next year, moving beyond its current reliance on shareholdings, with two projects in the prospecting phase: Luachimba, set for pilot production in 2025, and Xamacanda, which is still in the study phase. Angola, the world’s fourth-largest producer of rough diamonds, produced 9.8 million carats in 2023. In the first half of this year, production reached 5.6 million carats, a 36% increase from the same period in 2023.