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President Joao Lourenco Inaugurates the Diamond Development Hub in Lunda Sul, Angola

The New Jeweller

30 Aug 2021

The much awaited launch of Saurimo Diamond Hub was inaugurated by H.E. Joao Lorenco, President, Republic of Angola amidst huge cheer from the global diamond sector. Three leading cutting factories were also launched during the event. With an area of more than 3,00,000 square meters the Diamond Hub would be divided into three categories viz: Commercial, Industrial and the third reserved for Hybrid plant. The commercial area would consist of Restaurants, shops, banks, convention centers, government offices and residential complexes and the Industrial area would be divided into 26 plots of different area to house diamond cutting factories, training centers, and other allied segments in the Diamond sector. Still under construction, the Diamond HUB will have opportunities for many companies to lease space to carry out their businesses.
Three major Diamond cutting factories were launched during the inauguration event. The factories am KGK Group with a capacity to cut 12,000 carats per month, Kapu Gems with a capacity to cut 5000 carats per month and Stardiam with a capacity to cut over 5000 carats per month. Angola will also have the "Angola Diamond Exchange" in the near future, a first of its kind in Africa. The Angolan Diamond Exchange will be second to none in the world in terms of Infrastructure, Security systems and transparent functioning. The exchange is carefully created after taking into account the opportunities and challenges faced by some of the biggest diamond bourses in the world.
The Saurimo Diamond hub will also work towards creating large employment opportunities within the local population and is estimated to increase opt° 5000 jobs and more to start with..

Source : The New Jeweller
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