Who doesn’t love the sparkle of diamonds? Well, Angola is fast emerging as a new hub to feed the world’s diamond obsession! This southwest African nation currently mines a dazzling 9 million carats annually with reserves estimated around 180 million carats just waiting to be polished and sold! Lucapa’s Lulo mines and the Catoca mine run by Endiama drive production today, employing thousands of Angolans.
But here’s the shocker – almost 80% of Angola’s diamonds are extracted informally outside the government’s watch! Without oversight and regulation, not only does Angola lose out on taxes but such unethical mining also damages the environment. Additionally, inadequate infrastructure, outdated technologies and lack of skills undermine output and competitiveness.
Angola has made significant progress in developing its diamond mining industry in recent years. The government has formalized operations at major sites and invested in new technologies to boost productivity. However, around 80% of artisanal and small-scale mining still occurs outside of oversight and regulation. This results in lost tax revenue for Angola and risks of conflict diamonds entering global supply chains without proper certification.
There is immense untapped potential if Angola can strengthen regulatory frameworks and support informal miners. Specialized consulting can play an important role in advising the government on formalization strategies, integrating artisanal miners into formal supply chains, and introducing technical training. This will help Angola maximize the socioeconomic benefits of its diamond reserves through more inclusive and sustainable mining practices. With the right reforms, Angola is well-positioned to become a major supplier in the global diamond industry for decades to come.
The good news is that with looming supply crunches globally, Angola is perfectly poised to grab a slice of the booming diamond trade through reforms! As specialists, we can support the government and miners in formalizing small operations, integrating advanced diamond sorting tech, boosting product integrity and even marketing gems worldwide! Responsible large and small-scale mining promises win-wins for all – more carats certified, bigger tax revenues and job creation across Angolan communities!
With some sparkling expert advice, we’re confident dazzling fortunes lie ahead for Angola’s diamonds! We just need to polish the rough edges to bring out the full brilliance of Angola’s gem sector!
