ENDIAMA to Increase Production to 9 Million Carats in 2011
The company unveiled...ENDIAMA, Angola-based diamond mining company, expects to increase production to 9 million carats in 2011, the company revealed.
ENDIAMA's reached 8.5 million carats with revenue from diamond sales totaling $955 million, in 2010.
the company spokesperson, Antonio Jose Freitas, told Reuters this week that increasing production in 2011 because of the increasing of diamonds' average price.
"I think 2011 production will increase and the revenues [will] also because the average price of diamonds is increasing. Last year it finished at $111 per carat; in January the average price was $134," he said.
The company resumed production at three of its mines last year as the diamond market began to see recovery from the slump of the global financial crisis.
By: JewelryOurs
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