Angola inaugurated its first diamond polishing factory with the support of diamond magnate Lev Leviev. It is a joint venture between Angolas state diamond mining company, Endiama, with 48 % stake, and Levievs LLD Diamonds Ltd, with 47% stake, and a local consortium, which holds a 5% share. The factory in Angola is Africas largest polishing factory to date and is located in the Luanda Sul district, just south of the capital where other factories have set up shop.

"Angola will go out on an independent road, with the end of the civil war and it is now ready to set up its industry. We are there to help and support and these days we are launching a new diamond polishing factory in a joint venture with the government," Leviev told attendees at the Namibia 2005 Conference. "It is based on an economically viable principle set out by the government. The factory will work with local rough diamonds and hundreds of local workers will be trained there. The factory will serve as the corner-stone for a future diamond industrialization of Angola, which will include production and marketing of diamond jewelry," Leviev added.%%A processing capacity of approximately $20 million per month and employment to 600 workers at full production is the current aim of the new setup. It will process rough Angola diamonds, polish, and prepare them for sale on to the international market. "As well as representing, positive economic aspects, the (factory) has an important social role which is to generate new jobs for Angolan youths," according to a statement by Endiama.