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Angola’s Endiama and Sodiam Join Natural Diamond Council with $8M Pledge to Boost Global Campaign

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Angola’s state-owned diamond giants, ENDIAMA E.P. and SODIAM E.P., have officially announced their joint membership in the Natural Diamond Council (NDC), effective July 1, 2025. Their entry comes with a significant $8 million funding commitment aimed at supporting the NDC’s global marketing efforts during the critical second half of the year.

This move underscores Angola’s expanding influence in the international diamond trade. As the world’s third-largest producer of natural diamonds and a key region for future exploration, Angola is positioning itself as a responsible and proactive leader in promoting the value and integrity of natural diamonds.

“Promoting the values and socioeconomic benefits of our diamond industry is a national priority,” said Diamantino Azevedo, Angola’s Minister of Mineral Resources, Oil and Gas. “By joining the Natural Diamond Council, Endiama and Sodiam are reinforcing our long-term commitment to transparency, sustainability, and global consumer engagement.”

David Kellie, CEO of the NDC, welcomed the partnership, noting, “Endiama and Sodiam’s participation comes at a transformative moment for the industry. Their support will help amplify our message about the natural diamond’s rarity, authenticity, and lasting positive impact.”

Richa Singh, Managing Director of NDC India & Middle East, added, “Diamonds represent deep emotional and cultural significance. With Endiama and Sodiam on board, we are better positioned to educate consumers and share the inspiring stories behind each natural diamond.”

De Beers, a founding NDC member, responded to Angola’s $8 million contribution by pledging a matching amount for 2025, further strengthening the Council’s ability to run impactful global campaigns.

With their membership, Endiama and Sodiam join a prestigious lineup of NDC contributors, including De Beers, Rio Tinto, Petra Diamonds, Murowa, and the Okavango Diamond Company. Together, they aim to promote the enduring value, ethical sourcing, and community benefits of natural diamonds on the global stage.

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DiamondBuzz

Lesotho’s Kao Diamond Mine To Halt Operations Amid Industry Slump

The Mine’s Operator, Storm Mountain, Cited A Severe Financial Crisis Driven By A Prolonged Drop In Global Rough-diamond Prices, Rising Middle East Conflict

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Lesotho’s largest diamond mine, Kao, will cease operations on June 30 and transition to care and maintenance. The mine’s operator, Storm Mountain, cited a severe financial crisis driven by a prolonged drop in global rough-diamond prices, rising Middle East conflict-related fuel costs, and stiff competition from lab-grown diamonds.

Despite a warning last October that the mine required $13 million in fresh capital to survive, the necessary investment did not materialise. According to CEO Neo Hoala, the steep market decline made continued operations unsustainable. The shutdown will impact roughly 750 workers.

The mine’s financial downturn is stark: in 2024, Storm Mountain sold 250,000 carats for $50 million—a massive drop from its $105 million revenue in 2022. Kao’s suspension reflects a broader crisis in the diamond sector, following recent insolvencies and closures at Canada’s Ekati mine and South Africa’s Ekapa and Finsch mines.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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