• Angola produced 10.7M carats by Sept 2025, 72% of annual target
• Output driven by Catoca, Luele mines; exports up but sales value fell 14%
• Angola expands supply as Botswana, De Beers cut output to support prices
  

Angola’s diamond production reached 10.7 million carats between January and September 2025, according to Jânio Correa Victor, Secretary of State for Mineral Resources. This represents 72.3% of the official annual target of 14.8 million carats.

As the global natural diamond market faces falling prices and weak demand, Luanda is moving toward what could be a record year for production, taking a different path from Africa’s top producer, Botswana.

Angolan output rose 44% year-on-year in 2024 to 14.03 million carats, according to the Kimberley Process. That momentum has continued in 2025, driven by the Catoca and Luele mines, which together accounted for 91% of national production in the first half of the year. Endiama, the state-owned company that holds stakes in both operations, said Catoca exceeded its targets by 40% while Luele recorded a 35% year-on-year increase.

By contrast, production in Botswana is falling as De Beers Group, which sources about 70% of its global output from the country, cuts supply to support prices. The Anglo American subsidiary has reduced its 2025 forecast to between 20 million and 33 million carats, down from its initial range of 30 million to 33 million.

Angolan authorities have not explained their decision to boost production, even as the country is affected by the downturn. While export volumes rose 109% in the first half of 2025 from the same period in 2024, the value of sales fell 14%. The United Arab Emirates, Belgium, and Hong Kong remain the main buyers, together accounting for more than 90% of Angola’s diamond exports.

“Projections for the end of 2025 are encouraging. Global rough-diamond production is estimated to fall below 100 million carats, interrupting the growth trend of the last decade. This scenario favors countries like Angola, which stands out for its supply of gem-quality diamonds,” Endiama simply stated.

While Botswana is also recognized for the quality of its gems, with its mines having produced some of the largest diamonds in history, De Beers remains cautious about the market outlook. Although the company acknowledged some improvement, it has not raised its production forecast. The coming months will show what strategies the various players choose for 2026.

“Rough-diamond trading conditions continued to be challenging during the third quarter. The improvement in rough-diamond demand seen during the first half of 2025 was undermined by new US tariffs on diamond imports from India,” De Beers explained in late October, while noting that consumer demand for natural diamond jewelry remains stable.

Emiliano Tossou