Angola Renews Sales Policy On Rough Diamonds

Angola

Angola Renews Sales Policy On Rough Diamonds

Luanda, Angola — The Angola Ministry of Mining and Petroleum Resources has set up a working group to renew the profit-orientated sale of rough diamonds.

The Secretary of State for Geology and Mines, in Angola Jânio Victor will be heading up the group.

This working group, as stated in the executive order published in the State Gazette, December 18, consists of the Chairperson of the Board of Directors of Endiama, Manuel Ganga Junior, a representative of the Ministry of Finance, the National Reserve Bank and the National Kimberly Process Commission.

The creation of this commission is justified by the need to revitalize the marketing policy for rough diamonds in order to ensure greater transparency in the process of buying and selling diamonds in the Republic of Angola.

This diploma also falls within the provisions of Presidential Decree No. 153/17 of 4 July, which approves the organic statute of SODIAM-E.P, as the sole channel for the sale of diamonds in Angola.

Angola and the Mineral Reserves

Angola is one of the countries with the most important mining formations in Africa. Independent from colonial power of Portugal since 1975, the country began to develop awareness toward its diamond wealth in the beginning of the twentieth century.

In fact, the first discovers of diamonds in our country date of 1912, when the first diamond was found in Mussalala creek in Lunda-North province.

From this period on began an important work history:

In the 90’s, efforts were made to reinforce the capacity of state-created companies began in the fields of prospecting, production polishing and trading.

Indeed, the diamonds sub-sector benefited from attractive legal framework to make that endeavor happen. The Government of Angola began progressively creating a legal framework, namely with the Relaunch Strategy for the Diamond Sub-sector, the Integrated Program of Fight
Against Diamond Smuggling, the New Act on Private Investment and the formal implementation policy for new mining projects.

This effort is based on a tangible local reality: the diamond resources are wide spread throughout the country, due to the fact that merely 40% of our mining potential received detailed prospecting. Regarding this surveyed area, the information gathered indicates the existence of nearly 1000 kimberlite formations, and 195 mining prospecting permits were granted.

Alluvial diamonds occur widely over the northeastern quarter of the country, with a high proportion of gem-quality stones, and there are several kimberlite pipe formations that may be mined. Before independence, Angola was the fourth largest diamond exporter in the world in terms of value, but since that time output has fluctuated. The National Diamond Enterprise of Angola, a parastatal company, is responsible for approving diamond concessions, and it also licenses buyers. In 1992–94 most Angolan diamonds on the market were mined and smuggled from regions controlled by UNITA. The Angolan government gained control of this area in mid-1994 and tried to halt the activities of thousands of illegal diamond prospectors. UNITA retook some diamond regions in the mid- to late 1990s and controlled them until early 2002, when UNITA’s leader, Jonas Savimbi, was killed.