Angola's diamond production drops 20%, says synthetic stones a threat
Angola 's ministry of mineral resources said the country produced some 20% fewer diamonds than last year.
Angola saw a big drop in both diamonds mined and the price of the stones it sold in the first half of the year, leaving officials worried.The country's ministry of mineral resources said Angola had produced some 20% fewer diamonds than last year, with 5.66 million carats mined against a 6.98 million carats mid-year target.More than 86% of sales went to the United Arab Emirates , and most of the rest to Belgium.
"In recent years, the international market has been volatile, characterised by low prices for natural rough diamonds, resulting from the global economic slowdown and the decrease in demand, excess stocks and the growing popularity of synthetic diamonds," he said.
Jânio Correia Victor Angola Diamonds
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