DE BEERS CHAIRMAN CALLS ON ANGOLAN PRESIDENT
Last Updated: 2018-08-08
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LUANDA, aUG 8 (nnn-angop) -- The participation of De Beers Group, the world's largest diamond producer and trader, in Angola's mining sector has come into the spotlight after the chairperson of the South African group, Bruce Cleaver, called on Angolan President João Lourenço here Tuesday.

Cleaver told journalists after the meeting that their discussions had been "constructive and accurate" on matters related to the diamond sector in general.

Referring to measures adopted of the Angolan Government to ended the sale of diamonds to preferential customers, Cleaver applauded the move, saying that it now awaits only details of the regulations to be imposed to implement the decision.

It is a measure which allows diamond companies in Angola to freely sell up to 60 per cent of their production, ending the previous regime of preferential customers, a restricted group of companies which bought up the country's entire production..

Cleaver said De Beers was pleased to receive the Angolan President's invitation to the group to contribute to the country's diamond production.

Since 2014, the giant of the global diamond business has had only a residual presence in Angola, reducing the number of employees to 15 employees, from 280 in 2012.

At stake is the lack of concessions for the exploration of the precious stone, issued by Angola's National Company of Prospecting, Exploration, Lapidation and Commercialization of Diamonds of Angola (Endiama).

With the participation of Alrosa, the Russian company in the diamond sector, it is one of only two multinationals operating in Angola in this segment.

The recent changes made in the mining sector by President Lourenço, including the appointment of a new Board of Directors of Endiama and the fight against monopolies, may result in more foreign capital entering the diamond sector.

With mining operations in Botswana, Canada, Namibia and South Africa, De Beers controls some 44 per cent of the world's diamond production. -- NNN-ANGOP