The minister said that until November, around 12 million carats had been extracted, amounting to more than 82 percent of the goal set in the National Development Plan 2023-2027, a figured never reached before.

At the end-of-year greeting ceremony, Azevedo pointed out that the country is consolidating itself as one of the world leaders in the diamond market and is strengthening its contribution to the national economy, according to a report from the Angola Press Agency.

The minister highlighted the increase in the capacity to cut precious stones following the opening of another factory in the Saurimo Diamond Development Pole, in the province of Lunda-Sul, which ads to other previous seven, at a time when the country is striving to complete the installation of the Angolan Diamond Exchange.

On the negative side stands the fall in prices on the international market, between 40 and 60 percent, which negatively impacted the performance of diamond producing companies.

The drop stems from such developments as war and the commercialization of synthetic diamonds, and although the sector is called upon to improve its marketing actions, the authorities are considering the possibility of a readjusting the national production plans to bring them closer to real demand.

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