De Beers expands exploration in Angola
The prospecting will be conducted in partnership with Endiama, the national diamond company of Angola.
After leaving Angola a decade ago due to corruption, De Beers returned two years ago.
Sikonathi Mantshantsha - De Beers Group, the diamond producer majority owned by South African miner Anglo American, has signed agreements with the Angolan government to expand exploration projects in the southern African country.
According to the agreement signed on Tuesday with Diamantino Pedro Azevedo - Angola's minister of mineral resources, petroleum and gas - at the Mining Indaba in Cape Town, De Beers will have prospecting rights across the country.
"This agreement gives us the rights to look for diamonds across Angola," said Al Cook, chief executive officer of the diamond producer founded in South Africa in 1869.
The prospecting will be conducted in partnership with Endiama, the national diamond company of Angola. The prospecting rights add to those awarded to the world's second largest producer of diamonds in Angola in 2022, which marked De Beers' return to the Southern African country.
"The investment in exploration will be significant, in the tens of millions of dollars," said Cook, declining invitations to give further information.
Long haul
De Beers has spent similar amounts in exploration activities on the rights granted two years ago. Those are for prospecting rights in the Lunda Norte province, north-east of the country.
Cook says they are searching for kimberlite deposits in these projects.
De Beers said its projects in Angola mean it is back and will stay for the long haul.
Cook said: Our projects will take decades to execute, and the investments will be long.
Angola is the world's sixth largest diamond producer. – Fin24
According to the agreement signed on Tuesday with Diamantino Pedro Azevedo - Angola's minister of mineral resources, petroleum and gas - at the Mining Indaba in Cape Town, De Beers will have prospecting rights across the country.
"This agreement gives us the rights to look for diamonds across Angola," said Al Cook, chief executive officer of the diamond producer founded in South Africa in 1869.
The prospecting will be conducted in partnership with Endiama, the national diamond company of Angola. The prospecting rights add to those awarded to the world's second largest producer of diamonds in Angola in 2022, which marked De Beers' return to the Southern African country.
"The investment in exploration will be significant, in the tens of millions of dollars," said Cook, declining invitations to give further information.
Long haul
De Beers has spent similar amounts in exploration activities on the rights granted two years ago. Those are for prospecting rights in the Lunda Norte province, north-east of the country.
Cook says they are searching for kimberlite deposits in these projects.
De Beers said its projects in Angola mean it is back and will stay for the long haul.
Cook said: Our projects will take decades to execute, and the investments will be long.
Angola is the world's sixth largest diamond producer. – Fin24
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