Published by Global Banking & Finance Review®
Posted on August 12, 2025
2 min readLast updated: January 22, 2026
Add as preferred source on GoogleDe Beers, in partnership with Endiama, has discovered a new kimberlite field in Angola, marking its first such find in 30 years.
(Reuters) -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 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.
(Reporting by Nelson Banya; Editing by Jan Harvey)
De Beers announced the discovery of a new kimberlite field in Angola, marking its first such discovery in three decades.
De Beers is exploring for diamonds in Angola in partnership with the state-owned diamond company Endiama.
Further drilling, geophysical surveys, and laboratory analysis will be conducted to confirm the kimberlite type and assess its diamond potential.
De Beers returned to Angola in 2022 after leaving a decade earlier due to unsuccessful exploration efforts.
Anglo American is divesting De Beers as part of its strategy to focus on its copper and iron ore assets.
Explore more articles in the Finance category
