Angola’s Endiama Seeks New Diamond Deposits

The chairman Endiama, Antonio Carlos Sumbula, said that the state-owned diamond company will turn its attention toward discovering new diamond deposits following a rise in the price of rough diamonds, according to state-owned news agency Angop.

Hoping to attract investors into Angola’s diamond industry, Sumbula noted that it was the company’ intention to keep prices high, and to cut production when prices drop.

The company’s production dropped slightly in 2011 to 8.32 million carats from 8.36 million carats in 2010.

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