Angola to Hold First World Summit on Diamonds

The first world summit on diamonds will be held in Angola 4-10 November to discuss the management of diamond production and its impact on the economies of African nations.

Angola government envoy Manuel Geniur told a press conference on Thursday in Cairo that the summit will be attended by officials from diamond-producing African countries and representatives from 750 local and international companies.

Africa produces 70 percent of world’s diamonds while Angola is the fifth biggest producer of diamonds globally after Botswana, Russia, South Africa and Canada. Angola has the largest diamond reserves in the world.

The summit will include several exhibitions of diamonds, jewelry and equipment as well as seminars and workshops to discuss issues related to the diamond trade and distribution centres, Geniur said.

He said Angola produces ten million carats of diamonds annually, pointing out that 60 percent of its production is exported to the United Arab Emirates.

He called upon the states and Arab investors to invest in diamonds in his country, pointing out that there are 200 partnerships between his country and foreign countries in the mining and diamond industry.

He said Angola will host on June 23 the first international tender for polished diamonds.

Source African Press Agency

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