Latest news with #AngloAmerican
Zawya
3 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
3 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.
TimesLIVE
4 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
4 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.
Fashion Network
4 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.
