Angola’s Endiama plans to buy gold to make jewellery

Angola’s national diamond company Endiama this year plans to purchase gold to make jewellery from the Central African Republic, the Democratic Republic of the Congo, Niger and Mali, the company’s chairman said in Cape Town.

Sumbula told a group of investors at the International Conference on Mining Investment in Africa (Indaba) diamond polishing and jewellery making were Endiama’s main focus at the moment for which it plans to use it production of 8 million carats per year.

“The reopened factory in Luanda covers less than 1 percent of our diamond polishing needs in the country, since we want to add value to our production and create jobs,” he said, cited by Angolan news agency Angop.

Sumbula urged entrepreneurs to invest in Angola for the many opportunities and facilities provided by the government to stimulate private sector production.

In later statements, the chairman of Endiama said he had met with a delegation from India, where he noted willingness from business owners to buy small Angolan diamonds.

“The Indians are interested in small diamonds and we will maintain partnerships with investors to optimise the entire diamond business and raise more revenue from minerals,” he said.

Over 24 countries took part in this year’s mining Indaba which ended on 28th February, countries including South Africa, Angola, Botswana, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Nigeria, Seychelles, Tanzania, Zambia and Zimbabwe were all present.

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