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Demand for Angolan Diamonds Exceeds Supply Says Sodiam; Govt Invites Tenders for New Mining Concessions

publish:2019-09-03

Angola’s government-owned diamond trading company Sodiam has said that it will halt acceptance of any new proposals for the purchase of rough diamonds as the current demand that the company has received is far in excess of the available supply, according to media reports.

Stating that it has concluded purchase and sale contracts covering expected supply for the next two years, Sodiam officials were reported to have said earlier this week that from September onwards, interested buyers could register directly on the company’s website for possible participation in auction sales.

During this week, the government also commenced Road Shows to invite applications for the planned tenders of new concessions for exploration and mining of different minerals. Among the sectors for which tenders are being invited, two are for diamond concessions located in the Angolan provinces of Lunda Norte and Lunda Sul, media reports said.

The first of four road shows planned was inaugurated in Luanda by the Hon Minister for Mineral Resources and Petroleum, Diamantino Azevedo this week. The other three are scheduled to be held during September in London, Dubai and Beijing, the reports said.

According to reports, tender applications are being invited for two diamond exploration and mining projects from companies willing to form partnerships with Angola’s national diamond company Endiama.

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