Trans Atlantic Gem Sales (TAGS) and Angola’s Sodiam announced the sale of $12.9 million in rough diamonds during their third tender of the year.
The event showcased 44 diamonds weighing over 10.8 carats, including two exceptional stones that exceeded 175 carats. Of the 44 diamonds offered at the sale in Luanda, 42 were sold, according to TAGS. The company sources its diamonds from seven mines across Angola.
Despite tough conditions in the global diamond market, 38 international manufacturing firms took part in the tender. Both TAGS and Sodiam highlighted the advantages of a transparent tender system, which resulted in competitive outcomes for buyers and mines. TAGS described the response to the tender as “highly positive.”
Looking ahead, TAGS and Sodiam plan to build on this success to further develop Angola’s diamond industry.
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