Angola seeks to change up its Jewelry:http://www.bing2analytics.com/ economy http://www.bing2analytics.com/ About us reoccuring info letters to the editor tip us off website legal notice about us contactfor decades, the angolan economy has been completely covered with the country hydrocarbons sector.The business of petroleum exporting countries reports that oil accounts for 50% of the south west african country Gross domestic product(Gross domestic product)And sell at a discount 90% of exports.Angola first oilfield(Benfica, withinside the kwanza basin)Started formulating in 1955. (The central learning ability agency factbook 2013 estimated angolan gdp last year as $130.4 billion in getting power parity terms and $118.7 billion in open exchange rate terms. )This dominance of oil is mainly a legacy of decades of war independence war, civil war and boundary war.With regards to, these conflicts emotionally vulnerable or severely curtailed all other major sectors of the angolan economy.Oil was the exception since it was largely offshore and isolated from, and so safe from, the competitions, which involved hardly any maritime activity.Meanwhile belonging to the end of conflict in 2002, national renovation was started and has made good progress.As an example, the benguela railway is now functional again to its last station in angola before the border with the democratic republic of congo(Drc).The first train to the next station, luau, in 29 prolonged, reached it part way through last month.Therefore, all that continues to be to be done is to re establish the cross border link with the drc railways.The renovation of the 1 300 km long benguela railway has so far cost some $2 billion.Now the us government wants to rebalance the angolan economy diversify it away from its overwhelming dependence on hydrocarbons.Partly, this is to end the situation in which the country economy is highly susceptible to the price fluctuations of a single commodity.Price of oil is a big threat so we must diversify the economy to mitigate this, followed national bank of angola vice governor antonio andre lopes last month.But it is also to accelerate and broaden the actual socioeconomic development.In a discussion in may, angolan geology and mines minister francisco queir informed the japan eco friendly mining, investment and treatments business forum in tokyo that his government vision was to the mining sector into a major contri butor to the state national budget and a major source of employment, with a direct impact on enhancing the living conditions of the angolan people.He summarised his country strategic objectives as being to diversify mineral output, increase state bottom line, reduce poverty and improve the living con ditions of the people along with creation of jobs as well as through social investments in the mining districts.Existing, by far present non hydrocarbon minerals produced by angola are diamonds.Diamonds take into account 5% of angola Gross domestic product(Gross domestic product), And the particular is Africa number two diamond producer in quantity, Subsequent Botswana, It is, In reward terms, Everybody number five producer.North america.Geological survey(Usgs)Reports that some 90% of angolan diamonds are of gem quality and only about 10% are of business quality.Wearing 2009, angolan diamond development amounted to 11% of global making by volume and 13% by value.Nys owned diamond miner, empresa nacional delaware diamantes delaware angola(Endiama), Has reported that Angolan diamond output yr after came to 8.3 million carats, The same thing as in 2011.Private information expects national production this year to be at the same level as in 2011 and 2012, although knowing higher.The kimberley process group estimated the particular 2012 diamond production as being worth $1.16 billion dollars.In the moment, the actual biggest diamond producer is catoca mining, whose investors are endiama, what kind holds 32.8%, And european diamond group Alrosa, This has 32.8%, While China domiciled LLI Holdings owns 18% and b razil conglomerate Odebrecht has 16.4%. Catoca accounts for 87% of Angola diamond output and its production in 2012 was4% higher than expected and 29% upwards of in 2011.It has been investing in increasing the of equipment used for both prospecting and production.It is also enhancing the productivity of its workforce.Catoca has also made progress in developing its luemba project and its new snack bars at gango, gambo, luangue, luexe, quitubia, tchiafua so vulege.Russian bank vtb africa is reported to be ready to finance the phase ii expansion of catoca to the tune of $207 million.Of june, at the overseas conference in luanda marking the 100th anniversary of the first discovery of diamonds in angola, queir affirmed that the particular had enormous diamondiferous potential that had still to be located and quantified.He stated that, of more than a thousand kimberlite pipes that were identified, lately only three were being explored.Endiama recently signed a joint acceleration agreement with russian diamond miner alrosa.This covers such as for, and query in, diamoniferous areas in the african usa.This last two years, we carried out geological studies in angola and figured that just 10% of the alluvial diamonds we examined were from known kimberlites, said endiama lead designer carlos sumbula.For this reason, the angolan company decided to start a second phase of studies and undertake prospecting across the national territory in order to locate many kimberlite pipes that have not yet been discovered.Also speaking at the joint evolution agreement signing ceremony, alrosa president fedor andeev again referred to the geological studies that were carried out and highlighted that they indicated that angola diamond potential could be around a billion carats.The two companies will each have a 50% share in the joint session, which is developed over the next two years.The angolan government wants to see the particular diamond production increase by up to 5% a year, as well as local polishing of the stones increasing and the coming of a jewellery industry.This growth target is viewed as achievable indeed, there are indications that it will be reached this year and as helping the national income and boosting development, but not being adequately large to undermine diamond prices.Luanda is also finding, cin recent medium term, to reorganise current artisanal output into semi industrial assembly.A number of other diamond miners are involved in angola, usually together with endiama, which does not insist on majority ownership nor on management and operational control of the three way partnership.Additionally catoca, another example is the lulo endeavor, a business between australian junior lucapa diamond company and endiama, which is managed and operated by the australian small business.All diamonds mined in angola must be sold through endiama part company sociedade de comercializa de angola(Sodiam).The federal government continues to see endiama and sodiam as having fundamental roles in the sustainable development of the diamond sector not least in terms of collecting and processing company and commercial information.Moreover diamonds, the only other minerals currently manufactured in angola see results about Links Of London jewelry are cement, marble, gypsum, pebble and salt.The usgs estimated the 2011 production figures at 50 000 m3 for granite, 100 m3 for marbled and 40 000 t for salt.Cement is that is caused by a number of companies but not in sufficient quantities to meet national needs the usgs estimated angolan hydraulic cement production in 2011 at 1.5 million a great deal, With clinker cement assembly amounting to 500 000 t.Making is expanding and new plants are being built, and the costa rica government hopes that the country will achieve self sufficiency by 2017.Gypsum production in angola were only available in 2009, by f de gesso take care of sumbe.Other companies would like to the mineral.As an example, aurum pursuit services, of ireland in europe, has been exploring for excellent quality gypsum deposits in angola since 2010.This activity is being carried out on the part of a consortium of two angolan companies and one german company.

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