Angola’s first diamond-cutting factory, Angola Polishing Diamonds SA, was inaugurated in November 2005 at an estimated cost of US$10 million.
Angola currently has one diamond-cutting and polishing factory in Lunda Sul, with another factory slated to be set up by 2008. The factory was the outcome of the growing number of diamond being produced in Angola and the country’s interest in curbing exports of roughs.
Alberto Fançony, Director of Planning and Investment of Endiama, Angola’s national diamond company, mentioned that “The new project is expected to have a foreign investor and Angolan partnersâ€. Endiama expects the company to process 9.41 million carats worth US$1.2 billion in revenues.
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