Study: Angola Should Emulate Brazil, Canada to Grow Diamond Industry

- October 21st, 2013

Reuters reported that according to a study put out by Eaglestone, an investment bank, Angola’s diamond industry has “huge” growth potential, but will be unable to tap into it if the country does not make geological data more accessible. It would also benefit from developing “transport links and services for mining companies.”

Reuters reported that according to a study put out by Eaglestone, an investment bank, Angola’s diamond industry has “huge” growth potential, but will be unable to tap into it if the country does not make geological data more accessible. It would also benefit from developing “transport links and services for mining companies.”

As quoted in the market news:

In 2011, the government introduced a new mining code intended to boost exploration for diamonds and other minerals and help diversify an economy that depends heavily on oil.

The study said the code was a step in the right direction, but that more was needed, including reliable transport links, which were improving, but too slowly.

Angola should also emulate Brazil and Canada, where public availability of basic geological information has boosted development, the study said.

Click here to read the full Reuters report.

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