Angola Diamond Production 40 per cent below Forecasts

By John Jeffay / January 27, 2021 / www.idexonline.com / Article Link

(IDEX Online) - Angola's diamond production was reportedly down 40 per cent on its 2020 forecasts, from 10.5m carats to 7.5m carats.Endiama, the state-owned diamond company, says it laid off staff and revised down its forecasts but kept its mines open during the pandemic.It earned about $1.3bn in 2019 from the sale of 9.44m carats, according to Ag?? ?ncia Angola Press. Revenue was down $400m in 2020 as a result of coronavirus.Last May, Catoca (pictured), the world's fourth largest mine, said it was revising down its 2020 forecast by 80 per Predictions before coronavirus were that Angola's production in 2022 would leap to 14m carats, which would have put it ahead of Canada as the third-biggest diamond-producer.

Recent News

Mixed outlook for gold as it remains range bound for past three months

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on flat metal price

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on metal decline

June 23, 2025 / www.canadianminingreport.com

Huge quantifiable rise in geopolitical, economic and trade risks

June 23, 2025 / www.canadianminingreport.com

Platinum clearly ahead of palladium for first time in seven years

June 16, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok