Angola’s diamond sparkle brightened by new De Beers deal

6th February 2024 By: Martin Creamer - Creamer Media Editor

Angola’s diamond sparkle brightened by new De Beers deal

De Beers CEO Al Cook with Endiama CEO Ganga Junior at Investing in African Mining Indaba.

CAPE TOWN ( ­– Diamond mining and marketing company De Beers is to collaborate with Angola on opportunities to increase diamond production, support alluvial mining sector and enhance social development for the benefit of Angola’s citizens.

De Beers on Tuesday signed a memorandum of understanding (MoU) with Angola’s National Mineral Resource Agency, Angola’s State-owned Endiama diamond company, and Angola’s State-owned Sodiam diamond trading company, to support these objectives.

“Angola continues to set an example as a country that has reformed its prospects through enhanced transparency, adoption of internationally recognised best practices and a business-friendly investment environment,” De Beers CEO Al Cook highlighted following the MoU signing at the Investing in African Mining Indaba under way in Cape Town.

“This is a strategic partnership with the objective of increasing diamond production in Angola to contribute towards the socio-economic development of our country,” said Endiama CEO Ganga Junior.

The MoU extends the partnership of De Beers with Angola beyond the two mineral investment contracts of 2022, which were for licence areas in north-eastern Angola where exploration activities are now under way.

“I look forward to continuing to work with our partners in Angola through harnessing our collective expertise and ambition to support a thriving diamond sector,” Cook added.

Key areas where the parties agree to work together to consider shared initiatives include reviewing several kimberlite deposits to reassess their economic attractiveness through the application of new De Beers technologies, promoting the transparency and traceability of diamond production, and identifying opportunities to build local community capacity by leveraging the Building Forever sustainability framework of the De Beers Group.

The Angola deal is one of a number of investments De Beers is making.

In Namibia is the start-up of the Benguela Gem vessel offshore. In South Africa, the big underground diamond-mining project has got under way at Venetia. In Botswana, the Jwaneng diamond mine is also heading underground and Angola then becomes the fourth investment pillar through the broadening of the exploration agreements already in place.

Below ground in Angola, De Beers is working with Endiama to review the kimberlites with the help of new De Beers technology.

“If we take new exploration technology and new mining technology that we’ve honed in Canada and at the Venetia underground in South Africa and we apply that in Angola, what can we open up? That’s the first bit.

“Then, secondly, how can we help Angola on the sales of its diamonds to ensure that they get the recognition they deserve,” Cook outlined to Mining Weekly.