Angola’s state-owned diamond miner Endiama is seeking to further increase production after recording its highest-ever output in 2024, as the country strengthens its position in the global diamond industry and looks to expand its influence across the value chain.
Endiama plans to raise diamond production to 17 million carats by 2027, up from a record 14 million carats in 2024, according to a government publication released on Tuesday at the Africa Mining Indaba conference in Cape Town.
“The goal is to rise even further by increasing production from 14 to 17 million carats by 2027,” an Endiama spokesperson was quoted as saying in a booklet distributed during the conference, which brings together mining executives, policymakers and investors from across the continent.
The 2024 production milestone placed Angola as the world’s third-largest producer of rough diamonds by volume, behind only Russia and Botswana, highlighting the country’s growing role in global diamond supply at a time of shifting dynamics in the sector.
Endiama’s output growth has been driven by increased production from existing mines and the development of new projects, supported by government reforms aimed at attracting foreign investment and improving transparency in the mining sector.
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Angola has made diamonds a central pillar of its diversification strategy, as the country seeks to reduce its heavy reliance on oil revenues. The government has over the past decade introduced changes to its mining laws, encouraged joint ventures with international partners, and invested in geological exploration to unlock new reserves.
The diamond sector is one of Angola’s most significant non-oil contributors to export earnings, employment and foreign exchange inflows. Officials say boosting production will help stabilise revenues and strengthen downstream industries such as cutting, polishing and trading.
Beyond increasing output, Angola is also seeking a greater role in the global diamond industry through ownership and marketing.
Paulo Tanganha, Angola’s national director of mineral resources, told Reuters that the government is pursuing a plan to acquire a 20% to 30% stake in De Beers, the diamond unit of mining giant Anglo American.
The proposed stake would be held jointly by Endiama and Angola’s national diamond trading company, Sodiam, marking a significant strategic move for the country.
A stake in De Beers would give Angola greater influence over global diamond pricing, marketing and supply decisions, while allowing it to move beyond being primarily a producer of rough stones.
Global Diamond Market Context
Angola’s ambitions come at a time when the global diamond market is undergoing change. Demand for rough diamonds has faced pressure in recent years from softer consumer demand in key markets such as the United States and China, as well as growing competition from lab-grown diamonds.
However, industry executives say long-term demand fundamentals remain strong, particularly for natural stones, supported by rising incomes in emerging markets and renewed interest in luxury goods.
Africa remains central to the global diamond supply chain, accounting for a significant share of global production. Botswana has long dominated the sector on the continent, while Angola has steadily increased its output and profile.
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Despite the strong outlook, analysts note that Angola will need continued investment in infrastructure, skills development and regulatory efficiency to meet its ambitious production targets.
Security, logistics, and access to capital remain key challenges, particularly for new mining projects located in remote areas. The government has said it will continue to work with international partners to address these constraints.
Endiama has also emphasised the importance of responsible mining practices, environmental protection and community development as production expands.
With record output already achieved and plans in place to raise production further, Angola is positioning itself as a major force in the global diamond industry. If successful, Endiama’s strategy could boost state revenues, attract new investment and help transform Angola from a raw commodity exporter into a more influential player across the diamond value chain.
As competition intensifies and market conditions evolve, Angola’s ability to combine higher output with greater control over marketing and distribution will be critical in shaping the sector’s future.
