Angola studies creation of diamond exchange

Angola studies creation of diamond exchange

The Angolan Diamond Trading Society (Sodiam) will be replaced by a diamond exchange whose operating model is still being studied, said the Minister of Mineral Resources and Oil.

Sodiam is currently responsible for the purchase and sale of all semi-industrial and hand-made diamonds and 60% of diamonds produced in the industrial circuit.

The ongoing restructuring of the mineral resources subsector also includes the extinction of the Angolan National Iron Company (Ferrangol) and its transformation into the National Mineral Resources Agency, as well as the partial privatization of the Angolan National Diamond Prospecting, Exploration, Lapping and Trading Company (Endiama).

Read more in MacauHub.