Mining in Angola is an activity with great economic potential.The country has one of the largest and most diversified mining resources in Africa. With diamonds being the second leading export for the country behind oil, Angola currently ranks as the third largest producer of diamond in Africa.
The revenue realised from the increase in price per carat received for Angolan diamonds has promoted the country’s commitment to improving the standards of the mining sector in the country. To demonstrate the government’s dedication to this initiative,the minister of Mineral Resources and Oil, Diamantino Azevedo announced a sector within the ministry dedicated to the diamond industry. This dedicated committee will be inaugurated by February 2019 in Saurimo, Lunda Sul province.
The minister, who was speaking at the end-of-year compliance ceremony on Thursday, 23 of December 2018, spoke about restructuring the mining sector. He also added in his remarks that while the ministry is dedicated to sourcing investment for improving the the sector, the door is also open for companies come and invest in diamond mining and exploration in Angola.
He said that the restructuring program for the mining sector will continue throughout 2019 with the alteration in the process of commercialisation of diamonds. This will allow for a decrease of the dilapidation of this mineral resource sector within the country.
Angola has only one diamond polishing plant “Angola Polishing Diamonds SA” (APD). The plant is located in the municipality of Belas (Talatona) in Luanda, with a production capacity of five thousand carats of diamonds/month.
In his remarks on the oil sub-sector in Angola, the minister hinted on a mapping program underway in the country. This mapping activity that will allow the installation of fuel supply stations to facilitate investment initiatives within the sector.