Angola plans rough diamond sale revamp to draw investment

Loading Article...

For the best experience, please enable JavaScript in your browser settings.

Small rough diamonds are sorted at Belgian diamond company Rosy Blue in Antwerp, Belgium February 2018. [Photo: Reuters]

Angola plans a new system for selling rough diamonds as part of President João Lourenço’s efforts to increase investment, production and government revenue, a draft decree shows.

Diamond producers say they have struggled to make money in Angola due to a marketing system that obliged them to sell at below international prices, leading them to largely shun one of the world’s most exciting prospects for the precious stones.