SODIAM, the state-owned Angolan National Diamond Trading Company, has opened the online registration process for companies interested in buying rough diamonds directly from Angola-based diamond mining firms. SODIAM will be the single channel for these sales.
The move is part of the Angolan government’s new policy to allow Angola-based diamond mining companies to directly sell up to 60 percent of their production through contract or tendered sales as well as beneficiation marketing.
This new marketing strategy was announced by Presidential decree in January this year and forms part of Angola’s new diamond marketing policy and technical regulation.
Interested companies must fulfil certain criteria, however. Angola-based firms must show an annual turnover of at least $2 million in rough diamond trading, while overseas firms must show a minimum of $10 million.