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Before Angola's independence in 1975 the southwestern African country was the fourth largest diamond producing country in the world. In October 1917 it was founded by the Portuguese in the company Diamang. In 1971, production reached a record high of diamonds, with a total of 2,413,021 carats. With the establishment of the new Angolan Endiama governance, replaced it the Diamang in 1988. Current production comes largely from alluvial soils, mainly in the provinces of Lunda Norte and Lunda Sul, in the northwestern part of the country. About 90 percent of output has Gemme quality. Angola also has at least six close
eruption vents, one of which geologists believe that they are rich in diamond deposits. Mine is the largest mine in Catoca Saurimo. Diamonds are among the most important Angolan government revenues. Mining and trade are exclusively controlled by the state Endiama, the legal purchase of diamonds via the Sodiam, a 99-percent subsidiary of Endiama.
After the oil sector of the mining industry is the second largest industry in Angola, and especially since the diamond sector. 2006, the sale of the diamonds the Angolan budget a 165 million U.S. dollars. Several foreign companies see great investment opportunities. Angola was the third largest producer of diamonds in Africa (2009) and has explored only 40 percent of the diamond fields in the country. World's leading geologists estimate that the alluvial diamond reserves account for up to 130 million carats. Endiama expects to increase production to 10 million carats per year.
In contrast to the diamond sector is labor-intensive oil, but here are many private diamond miners worked. The government sees this as an illegal activity and smashes this informal sector. Thus, in 2007 more than 40,000 mostly Congolese garimpeiros distributed by the diamond mines in the northeast of the country. Endiama has taken forcible relocation without compensation of huge tracts of land in possession.
