Angola wants to polish its own diamonds

By Ya'akov Almor / February 18, 2019 / www.idexonline.com / Article Link

The Diamond Trading Society of Angola (Sodiam) is spending more than US$ fivemillion to establish and operate its diamond cutting and polishing subsidiary StonePolished Diamond in Angola's capital of Luanda. The company currently employs 70people but is expected, according to Eug?(C)nio Pereira da Rosa, Sodiam's ChiefExecutive Officer, to expand the work force to 400.By 2020, the plant is to polish between 2000 carats to 3000 carats per month. Initially,the firm is to polish rough diamonds of from three to ten carats and special stones thatweigh 10.8 carats or more.Pereira da Rosa reported an additional diamond cutting and polishing facility will be builtin Saurimo, in Angola's eastern Lunda Sul Province. Construction of the plant will beginin March 2019, with an investment of US$ 10 million.

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