With diamond reserves estimated at 180 million carats, mainly in the provinces of Lunda Norte and Lunda Sul in the central and northeastern parts of the country, Angola has the potential to become the largest diamond mining country in the world.
As part of its strategic plans, Angola intends to establish a diamond bourse in Luanda, its capital city.
World Federation of Diamond Bourses (WFDB) President Ernie Blom says: “We are happy to welcome this important move from Angola, a key player for future diamond mining potential and we welcome the important changes which have been taking place in the country.
“Obviously the WFDB is ready to welcome a new diamond bourse and we are happy that this is being studied.”
Angola’s total rough diamond production last year was 8.4 million carats with a value of $1.2 billion, according to Kimberley Process statistics.
The WFDB has 30 affiliated bourse members and exists to protect the interests of affiliated bourses and their individual members, and also to further the amicable settlement or arbitration of disputes between individual members of the affiliated bourses and/or between affiliated bourses.
The WFDB participates in the promotion of world trade and encourages the establishment of new diamond bourses.
In 2012, it established The World Diamond Mark, a not-for-profit organization, to promote consumer desirability and confidence in diamonds.
Members of affiliated bourses pledge to uphold the traditions, principles of mutual trust, consideration and friendship which prevail among the members of the bourses world-wide.
It also pledges to abide by and hand down these principles and to ensure that they will forever serve as a basis in business relations between members of affiliated bourses.