|The Portuguese arrived around 1475 at the coast of what today is Angola. They played a pivotal role in the Atlantic slave trade: until 1830 well over a million Angolan people were exported as slaves, mainly to Brazil, but also to the Caribbean and North America. Modern diamond mining began around 1912, when gems were discovered in a stream in the Lunda region in the northeast. In 1917 Diamang was granted the concession for diamond mining and prospecting, which it held until independence. Control over the company was obtained by the government in 1977.|| |
In 1979 a general law on mining activities was enacted that gave the state the exclusive right to prospect for and exploit minerals.
|Over the last five years, while production remained fairly steady at the Catoca mine, international mining companies abandoned their operations. That trend is now starting to reverse.|
Angola is also known for its significant gold and oil reserves.