Five Auction Houses Interested in Angola Diamond Bourse

By John Jeffay / December 21, 2020 / www.idexonline.com / Article Link

(IDEX Online) - Five major players have shown interest in conducting auctions and tenders when the Angolan Diamond Bourse opens next year.Angola, the world's sixth biggest diamond producer, brought in trading reforms in 2018 that allowed 120 companies to buy stock previously available to just eight "preferential customers".Diamantino Azevedo, the country' minister of mineral resources and petroleum, has pledged to have a diamond exchange functioning in the capital Luanda by December 2021 as it attempts to capitalize on its most valuable resource.Peter Meeus, (pictured) the industry veteran who oversaw the establishment of Dubai's bourse and served as its president, is acting as consultant for the project by Sodiam, the state-owned diamond company. Mr Meeus said: "We have received interest from Bonas-Couzyn NV, First Element DTC (Pty) Ltd., I-Hennig & Co. Ltd, Koin International DMCC and Trans Atlantic Gem Sales DMCC and are now investigating which services would suit Angola's needs in the best possible way in accordance with the law of the country."Mr Azevedo said: "Angola today has 14 active mining sites and has produced a total amount of 9.086 million carats in 2019 for an estimated value of US$1.263 billion. "One of the main objectives of the Angolan Diamond Bourse is to put the enormous flow of these diamonds under one roof. It is also understood that a percentage of these diamonds could be sold through a professional and public tender."

Recent News

Uranium volatility after Russia's US export restrictions

November 25, 2024 / www.canadianminingreport.com

Gold stocks rebound on metal bounce and equity rise

November 25, 2024 / www.canadianminingreport.com

Crypto market size continues to catch up with gold

November 18, 2024 / www.canadianminingreport.com

Crypto stealing some of gold's thunder

November 18, 2024 / www.canadianminingreport.com

Gold stocks drop on metal price decline

November 11, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok