De Beers has identified eight new kimberlite deposits in Lunda Sul, Angola, and is in discussions with the Government to sell “some of the best diamonds in the world.” The multinational company has teamed up with Endiama, Angola’s national diamond company, to explore six additional sites in the country, according to De Beers’ CEO Al Cook.
Speaking during the 2nd Angolan International Diamond Conference, Cook expressed satisfaction with De Beers’ return to Angola in 2022, crediting the reforms implemented by President João Lourenço’s administration and the increased transparency that facilitated the company’s re-entry into the market.
Currently, De Beers holds two mining licenses in Angola, both in the prospecting phase. The company is using aerial electromagnetic surveys to assess the sites before moving on to excavation, Cook explained during the conference, held from October 22 to 23 in Saurimo, Lunda Sul, where most of Angola’s diamonds are sourced.
De Beers is also collaborating with the Angolan government on policy development, as well as diamond cutting and marketing initiatives, to help position Angolan diamonds among the finest in the world.
When asked about the timeline for prospecting, Cook noted that there is no set period, as mining will only commence if a commercially viable kimberlite is discovered. If successful, De Beers anticipates beginning production around 2030.
While Cook declined to disclose specific investment figures, he emphasized the scale of their commitment, citing the company’s $2.5 billion investment in a diamond mine project currently underway in South Africa as an example.