Latest news with #Endiama
Zawya
5 days ago
- Business
- Zawya
Major diamond discovery, De Beers unearths new kimberlite field in Angola
De Beers' joint venture in Angola has discovered a new kimberlite field, the most common source of mined diamonds, its first such discovery in three decades. The Anglo American unit is jointly exploring for diamonds in Angola in partnership with the country's state-owned diamond company Endiama. De Beers stated in a press release that the joint venture had intersected kimberlite in its first drill hole into a high-priority cluster of targets in July 2025. The company stated that further drilling, geophysical surveys, and laboratory analysis will be conducted over the next few months to confirm the kimberlite type and assess its diamond potential. Kimberlites are a rare rock type that brings diamonds to the surface through volcanic eruptions. De Beers returned to Angola in 2022, having left a decade earlier after exploring unsuccessfully. The mining giant signed two mineral investment contracts with the Angolan government in April 2022, followed by agreements on diamond processing and exploration in 2024. Parent company Anglo American is divesting De Beers as part of its strategy to focus on its copper and iron ore assets. De Beers has drawn interest from at least six consortia, including commodities billionaire Anil Agarwal, Indian diamond firms, and Qatari investment funds, sources close to the companies told Reuters in June.
Business Insider
6 days ago
- Business
- Business Insider
Diamond giant De Beers discovers kimberlite field in Angola, first in 30 years
De Beers has uncovered a new kimberlite field in Angola, its first such find in three decades, the diamond giant said. De Beers has discovered a new kimberlite field in Angola after three decades. The find resulted from a partnership with Angola's diamond firm Endiama and surveys conducted in March 2025. This discovery aligns with De Beers' contracts with Angola and Anglo American's divestment focus. De Beers has uncovered a new kimberlite field in Angola, its first such find in three decades, the diamond giant said on Tuesday. In July, the Anglo American unit, in partnership with Angola's state-owned diamond firm Endiama, struck kimberlite in its first drill hole targeting a high-priority cluster identified from airborne surveys conducted in March 2025. Kimberlites, a rare volcanic rock that carries diamonds to the surface, are the primary source of mined gems. Over the coming months, further drilling, ground geophysical surveys, and laboratory analysis will be conducted to confirm the kimberlite type and assess its diamond potential. Long-term partnership with Angola 'Angola is, in our view, one of the best places on the planet to look for diamonds, and this discovery reinforces our confidence. We are excited about the role De Beers can play in helping the country deliver on its huge potential, both below and above the ground," Al Cook, CEO of De Beers Group, said. This latest milestone builds on the foundation of two Mineral Investment Contracts signed between De Beers and the Government of Angola in April 2022, and a Memorandum of Understanding signed at Mining Indaba in February 2024.
Yahoo
6 days ago
- Business
- Yahoo
De Beers-Endiama partnership discovers new kimberlite field in Angola
De Beers, in partnership with Angola's national diamond company, Endiama, has announced the discovery of a new kimberlite field in Angola. This marks the first such find for De Beers in more than 30 years and signals a potential boost for the country's diamond industry. The find was made during the first drill into a high-priority cluster of targets, which had been identified from airborne surveys conducted in March 2025. The joint venture's exploration team successfully intersected kimberlite in July. Over the coming months, it will undertake further drilling, ground geophysical surveys and laboratory analysis to determine the type of kimberlite and evaluate its potential for diamonds. This exploration success builds upon the foundation laid by two mineral investment contracts signed by De Beers and the Angolan Government in April 2022, and a memorandum of understanding signed at Mining Indaba in February 2024. De Beers Group CEO Al Cook said: 'Angola is, in our view, one of the best places on the planet to look for diamonds, and this discovery reinforces our confidence. It is a powerful reminder of what can be achieved through partnership, and I commend President Lourenco and his government for all the work they have done to enhance transparency, adopt international best practices and create a business friendly environment, all of which has enabled us to return to Angola and seek new sources of supply. "We are excited about the role De Beers can play in helping the country deliver on its huge potential, both below and above the ground." In related news, the Government of Botswana has indicated its intention to acquire a controlling stake in De Beers. This move could introduce new dynamics into the ongoing sale process of the diamond producer by its current owner, Anglo American. "De Beers-Endiama partnership discovers new kimberlite field in Angola" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
TimesLIVE
6 days ago
- Business
- TimesLIVE
De Beers announces kimberlite field discovery in Angola
De Beers' joint venture in Angola has discovered a new kimberlite field, the most common source of mined diamonds, it said on Tuesday, its first such discovery in three decades. The Anglo American unit is jointly exploring for diamonds in Angola in partnership with the country's state-owned diamond company Endiama. De Beers said in a statement the joint venture had hit kimberlite in its first drill hole into a high-priority cluster of targets in July. The company said further drilling, geophysical surveys and laboratory analysis will be conducted over the next few months to confirm the kimberlite type and assess its diamond potential. Kimberlites are a rare rock type that brings diamonds to the surface through volcanic eruptions.
Fashion Network
7 days ago
- Business
- Fashion Network
De Beers announces kimberlite field discovery in Angola
' joint venture in Angola has discovered a new kimberlite field, the most common source of mined diamonds, it said on Tuesday, its first such discovery in three decades. The Anglo American unit is jointly exploring for diamonds in Angola in partnership with the country's state-owned diamond company Endiama. De Beers said in a statement the joint venture had hit kimberlite in its first drill hole into a high-priority cluster of targets in July 2025. The company said further drilling, geophysical surveys and laboratory analysis will be conducted over the next few months to confirm the kimberlite type and assess its diamond potential. Kimberlites are a rare rock type that brings diamonds to the surface through volcanic eruptions. De Beers returned to Angola in 2022, having left a decade earlier after exploring unsuccessfully. The mining giant signed two mineral investment contracts with the government of Angola in April 2022, followed by agreements on diamond processing and exploration in 2024. Parent company Anglo American is divesting De Beers as part of its strategy to focus on its copper and iron ore assets. De Beers has drawn interest from at least six consortia, including commodities billionaire Anil Agarwal, Indian diamond firms, and Qatari investment funds, sources close to the companies told Reuters in June.
