| Angola’s diamond industry, which began a century ago under Portuguese colonial rule, is successfully emerging from a long period of difficulty as a result of a civil war that ended in 2002.|
The country’s production volume has remained relatively stable at 8 million carats per year since 2006.
|Over the last five years, while production remained fairly steady at the Catoca mine – the world’s fourth largest diamond mine in which Russia’s Alrosa is a joint venture partner – the impact of the financial crisis slowed production across the country and prompted international mining companies to abandon their operations. That trend is now starting to reverse.|
Angola is also known for its significant gold and oil reserves.