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Luanda - Angola said on Tuesday diamond companies operating in the oil- and mineral-rich nation should reduce the number of foreign workers in the country as a cost-cutting measure to fight the ongoing crisis in the sector.
Prices of commodities like diamonds have plunged in recent months as the US, Europe and Japan slipped into recession. The US accounts for about half of world diamond demand.
"It hasn't been easy," said Angolan Mining Minister Makenda Ambroise in comments broadcast over Radio Nacional de Angola.
"Maybe, what companies can do to cut costs in the first place is to reduce the number of expatriates on their payroll," he added.
Last month, some 130 workers of subsidiary of Angolan state-owned diamond company Endiama went on strike demanding higher wages in a sign that the country's most luxurious export was losing its lustre in the global economic slowdown.
Angola's diamond production has been growing fast since a 27-year civil war ended in 2002. The country is the world's fifth-biggest diamond exporter.
Despite the global financial crisis, Endiama said in January that it planned to increase annual diamond production by about 10% to 10.5 million carats in 2009.
According to Angolan law, companies interested in exploring for diamonds in Angola have to partner with Endiama.
- Reuters