Trans Atlantic Gem Sales (TAGS) and Angola’s state-owned diamond company, Sodiam, reported successful results from their third tender of the year, generating $12.9 million in sales of rough diamonds.
The tender showcased 44 diamonds, each weighing over 10.8 carats. Notably, two of the diamonds exceeded 175 carats. Out of the 44 stones presented at the sale in Luanda, 42 were successfully sold, according to TAGS. The company markets production from seven mines in Angola.
Despite difficult conditions in the global diamond market, 38 international manufacturing firms participated in the tender. Both TAGS and Sodiam highlighted the advantages of their transparent tender system, which yielded competitive outcomes for both buyers and mining companies. TAGS described the overall response to the tender as “highly positive.”
Looking ahead, TAGS and Sodiam are committed to building on this success and further developing Angola’s diamond industry.
Related topics:
- Sales Decline at Luk Fook Amid Rising Gold Prices and Weak Diamond Demand
- De Beers’ GemFair Program Hits 10,000 Diamond Milestone
- Stakeholders Invited to Review New Mining Standard
