Angola Plans Diamond Output Boost to Offset Global Price Slump
A factory worker cuts a diamond in Luanda, Angola.
Photographer: Luke Dray/Getty Images
Angola is seeking to increase diamond output by about 7% this year, betting higher volumes can cushion against a prolonged slump in global prices.
Africa’s largest producer of the gems is targeting production of 16.2 million carats in 2026 at an average price of $150, which would equate to $2.43 billion in revenue, a presentation by the national mining regulator, Agência Nacional de Recursos Minerais shows.