Thursday, February 10, 2011

Endiama Diamond Company of Angola Expected to Produce 9M Carats in 2011

Angola's government-owned diamond mining company, Empresa Nacional de Diamantes de Angola (Endiama) expects diamond production to reach 9 million carats in 2011, the website reports, quoting an Angolan official who spoke at the International Mining Fair in Cape Town.

In 2010, Endiama – the world's fifth-largest diamond producer – recommenced production at three mines following the recovery in the global diamond industry that brought an increased demand for rough diamonds.

Antonio Jose Freitas said that Endiama expected revenue, as well as production, to rise in 2011 and noted that prices had already risen from $111 per carat at the end of 2010 to $134/carat in January.

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