De Beers Group, majority-owned by Anglo American (LSE:AAL), has expanded its diamond exploration activities in Angola to 16 areas.
CEO Al Cook disclosed the expanded footprint after meeting Angolan Mineral Resources, Petroleum, and Gas Minister Diamantino Azevedo in Luanda on 3 November.
Cook subsequently met President João Lourenço, telling officials that Angola hosts De Beers’ largest active diamond exploration program globally.
The company has invested US$15 million ($21.7 million) in exploration and is allocating more than US$15 million to environmental projects in southern Angola, according to the country’s presidential communications office.
De Beers is seeking commercially viable deposits that could support future mine development. However, no mineral resource, development plan, capital estimate, or investment decision has been announced.
“We will try to develop exploration into a diamond mine,” Cook says.
He adds that a mine could require billions of dollars in investment, although any development would depend on the outcome of the current exploration program.
De Beers returned to Angola in 2022 under two mineral investment contracts covering exploration and potential mining. It works with state-owned diamond company Endiama.
In July 2025, the partners intersected kimberlite in their first drill hole into a cluster of targets identified through airborne surveying. De Beers described the result as its first discovery of a new kimberlite field in more than 30 years.
Kimberlite can host diamonds, but further drilling, geophysical work, sampling, and laboratory analysis are required to determine whether the discovery supports an economically viable operation.
Angola is Africa’s third-largest diamond producer, although De Beers considers much of the country underexplored.
Anglo American owns 85% of De Beers, with the Botswana Government holding 15%. Anglo continues to pursue a sale of its interest as part of a broader portfolio restructuring.
Swiss luxury group Richemont (JSE:CFR) was reportedly considering joining the Global Diamond Consortium’s bid for Anglo’s stake, as previously reported by Mining.com.au. No agreement involving Richemont has been confirmed.
Write to France Pinzon at Mining.com.au
Main image: Ministry of Mineral Resources, Petroleum, and Gas (Angola)
