SODIAM Gets Interest from 5 major Auction Houses

Luanda: SODIAM has received interest from 5 global tender and auction houses related to the development of these services in the soon to be established Angolan Diamond Bourse (ADB).

Hon. Diamantino Azevedo said, “Angola today has 14 active mining sites and has produced a total amount of 9.086 million carats in 2019 for an estimated value of US$1.263 billion. One of the main objectives of the Angolan Diamond Bourse is to put the enormous flow of these diamonds under one roof. It is also understood that a percentage of these diamonds could be sold through a professional and public tender. Sodiam is looking forward to examine service providers to maximize the output of our diamond production and reach the best possible results.”

The initiative was coordinated by Sodiam and the Special Coordinator for the Angolan Diamond Bourse, Mr. Peter Meeus. “We have received interest from Bonas-Couzyn NV, First Element DTC (Pty) Ltd., I-Hennig & Co. Ltd, Koin International DMCC and Trans Atlantic Gem Sales DMCC and are now investigating which services would suit Angola’s needs in the best possible way in accordance with the law of the country”, Mr. Meeus said.

Further, Sodiam is also examining cooperation with providers of deep-boiling services for the ADB, Elmyr Services bvba and Quality Boiling (Charlotte) bvba. Mr. Meeus said, “both Elmyr and Charlotte have sent in their proposals which currently are being examined. Both companies have offices in Antwerp and Dubai, the leading rough diamond centres. It is our intention to have a deep- boiling facility in the new Angolan Diamond Bourse. Before being offered for sale to customers, rough diamonds could go through a deep boiling process, which shall be conducted in the premises of the Angolan Diamond Bourse for the purpose of local beneficiation and price maximization”.

The Presidential Decree 175/18 of 27 July 2018, Presidential Decree 35/19 of 31 January 2019 and a new Presidential Decree 143/20 of 26 May 2020 have outlined some important main principles which will serve as guidelines for Angola’s future in diamonds.

The Angolan Diamond Bourse will include a gemmological academy and a technological research centre and will be embedded in a Free Trade Zone.