Angola Sells $56m of Rough in its Biggest Auction
June 28, 21
(IDEX Online) - Angola's national diamond company raised over $56.6m in its third and largest rough auction.
Fifty companies from the world's main diamond markets bid online for special stones from the Uari, Lulo and Catoca mines, as well as run-of-mine goods from the Luele kimberlite production in the Luaxe region.
Sodiam, the Luanda-based company that has been marketing Angola's diamonds since 1999, said bidding closed on 23 June.
Angola is the world's sixth biggest diamond producer, but has has only explored 40 per cent of its diamond-rich territory.
In 2018 it introduced trading reforms that allowed 120 companies to buy stock previously available to just eight "preferential customers".
Pic of rough diamonds courtesy Sodiam