Angolan Diamond Exchange to Open in 2021

Issued the following announcement on October 23.

The minister of Mineral Resources and Petroleum, Diamantino Azevedo, launched last Wednesday the challenge to the companies in the diamond sector so that the first Diamond Exchange in Angola can be created at the end of 2021.

According to the government official - who was speaking at a meeting with top managers of companies like Endiama and Sodiam, as well as the international consultant Peter Meeus, hired to help create conditions for the installation of the Angola Diamond Exchange - it is a challenge for the sector that the Exchange initiates experimentally, even if in temporary facilities, in late 2021.

He added that the preliminary work for its installation "goes smoothly".

Peter Meeus, who leads the technical group for the definition of the Organizational Structure and Management of the Stock Exchange, pledged to do everything to make it a reality.

The existing exchange in Dubai emerges as one of the models to follow for the introduction of the diamond exchange in Angola, for which Peter Meeus was hired, who was already Honorary President and Administrative Director of the Dubai Exchange, in the United Arab Emirates.

Angola will produce eight million carats of diamonds this year, minus two million of the objectives set by the National Diamond Company (Endiama), due to constraints caused by Covid-19.

In 2019, the diamond sector in Angola produced 9.121.515, 07 (over 9.1 million) carats, exploited by 12 mining companies.

Original source can be found here.