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Angola sees record diamond production in 2015

Diamond production in Angola this year may reach a record of 9 million carats, an annual increase of 5.6 percent, said Angola’s Minister of Geology and Mines, Francisco Queiroz in Beijing.

The minister noted, however, that although the amount would be a record, in terms of value there would be a drop compared to 2014 due to a fall in the price of diamonds on international markets.

“In 2014, with 8.5 million carats we earned US$1.3 billion, but this year we should only get US$1.13 billion,” Queiroz projected.

Queiroz said he hoped that the new Luaxe diamond mine, located in northern Angola, could more than double national production and increase the sub-sector’s contribution to gross domestic product (GDP) from the current 1 percent to 5 percent by 2020.

Angola’s Minister for Geology and Mines travelled China at the invitation of China’s Minister for Land and Resources, Jiang Daming. (macauhub/AO/CN)

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