Luanda, Oct. 17, 2024 (Lusa) - Angolan state diamond company Sodiam raised $12.9 million (€11.9 million) by selling 44 diamonds weighing a total of 1,493 carats.

According to a statement from the Anglo-NationalDiamond Trading Company (Sodiam), the 44 stones sold on Wednesday came from Somiluana, Lulo, Kaixepa, Tchegi, Chitotolo, Luele, and Catocamines, with 37 international companies participating in the auction.

The evaluation sessions took place between 7 and 15 October at Sodiam's premises, and bids were submitted electronically.

In a statement, the chairman of Sodiam's Board of Directors, Eugénio Bravo da Rosa, said that "this auction showed that, despite the unfavourable situation on the international market, where there is weak demand and high levels of stock in the main markets, the price for certain categories of Angolan produce proved to be somewhat satisfactory".

In the same press release, the head of Sodiam stressed that the results of the auction would provide "some relief" to the pressure on the cash flow of mining companies and added that "the different players in the industry would continue to work together to find measures to minimise the impact of this negative phase in the market".

Sodiam is the state company responsible for commercialising Angolan diamonds produced in 18 kimberlitic and alluvial mines.

RCR/ADB // ADB.

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