Angola Diamond Limited Program Description

bout Angola Diamond

Angola’s mining industry to be worth $7.5bn by 2018.

Angola is seeking to not only add more variety to the minerals that are mined commercially, but also to add value to its natural resources and build up a thriving industrial sector.

Diamond mining began in Angola more than a century ago, but during the 27-year civil war between 1975 and 2002, mineral exploration and extraction, like much else in the country, largely ground to a halt. Since 2003, development of the mining industry, and particularly diamonds, has been a main priority for the government as it seeks to generate revenues from its mineral resources and diversify the economy away from oils.

“We have moved beyond oil to exporting diamonds and other minerals,” explains Angola’s Minister of Trade, Rosa Escorcio Pacaviria de Matos. “And we think that with the liberalization of the market and the increase in domestic production, we can move towards expanding our export balance.” With less than half of the country having been explored so far, the country still holds big prospects for foreign investors.