Diamond Conference Highlights the Angolan Potential

In a bid to encourage investments in Angola's diamond sector, the country's diamond firm Endiama is hosting a conference highlighting Infrastructure investments and new mining incentives such as tax reductions.

Endiama, the Angolan national diamond company, is organizing the Angolan Diamond Centenary Conference 2013 in Luanda from June 20-21.

Angola is one of the largest diamond producing countries in the world, exporting 8.7 million carats worth $1.15 billion in 2011.

"The conference aims to highlight the accomplishments of Angola in the diamond industry," said Carlos Sumbula, Endiama’s Chairman, in a release, emphasizing Angola’s potential. "60 percent of the territory is yet to be prospected."

The new mining law incentives include a tax reduction for mining companies from 35 percent to 25 percent, he added. The second day of the conference will be dedicated to speeches by representatives from several African mining companies.

http://www.idexonline.com/portal_FullNews.asp?id=37996