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Angola's diamond production to miss expectations in 2020

Xinhua News,LUANDA
2020-09-10 16:22

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LUANDA, Sept. 9 (Xinhua) -- Angola's diamond production will fall short of the projections for 2020 due to COVID-19, the country's national diamond company said on Wednesday.

Addressing a virtual conference on diamonds in Angola, Jose Manuel Ganga Junior, CEO of the state-run Endiama, said the country expects to produce 8.3 million carats of diamond in total by December, 20 percent less than initial projections.

Ganga Junior ascribed the underproduction to the COVID-19 pandemic.

The company formerly expected to produce 10.5 million carats in 2020 and a turnover of 1.4 billion U.S. dollars. But the pandemic brought down the company's 2020 revenue forecast to 1.1 billion dollars, according to Ganga Junior.

Angola is among the main diamond producers in the region, with Endiama being the country's exclusive mining concessionaire of diamonds.
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