Angola to Produce 17.53M Carats of Diamonds by 2027

Angola’s Ministry of Mineral Resources, Petroleum and Gas (MIREMPET) has announced that the country plans to produce 17.53 million carats of diamonds by 2027.

Announced on May 9 by Director of the Office of Studies Planning and Statistics at MIREMPET Alexandre Garrett, the target falls in line with Angola’s National Development Plan 2023-2027 for the mining sector.

According to the plan, 10 new diamond-cutting factories will be built throughout the country by 2027. Meanwhile, construction of the Ouro refinery in Luanda is set for completion by the end of this year, with production poised to begin in 2025.

Data from Angola’s state-owned diamond company Endiama shows that the country produced approximately 9.8 million carats of rough diamonds in 2023, surpassing the 8.7 million carats produced in 2021.

Meanwhile, data from industry analytical agency Rough & Polished shows that revenue from Angola’s increased diamond produced is expected to rise to $2.62 billion by 2027, up from $1.5 billion in revenue from last year.

Ranked as the fourth-largest diamond producer in Africa, Angola currently has 24 diamond producing mines in the country, with 54 exploration projects currently ongoing.