What's Happening?
De Beers has announced the discovery of a new kimberlite field in Angola, marking its first such find in three decades. The discovery was made in partnership with Angola's state-owned diamond firm Endiama, following airborne surveys conducted in March 2025. Kimberlites are rare volcanic rocks that are the primary source of mined diamonds. The discovery was made in July during the first drill hole targeting a high-priority cluster. De Beers plans to conduct further drilling, ground geophysical surveys, and laboratory analysis to confirm the kimberlite type and assess its diamond potential. This discovery is part of a long-term partnership with Angola, reinforced by Mineral Investment Contracts signed in April 2022 and a Memorandum of Understanding signed in February 2024.
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Why It's Important?
The discovery of a new kimberlite field in Angola is significant for the diamond industry, as it could lead to increased diamond production and economic growth in the region. Angola is considered one of the best places to search for diamonds, and this find could enhance the country's position in the global diamond market. For De Beers, this discovery strengthens its strategic partnership with Angola and supports its efforts to expand its diamond exploration and production capabilities. The find also comes at a time when parent company Anglo American is divesting De Beers to focus on copper and iron ore, potentially increasing the value and attractiveness of De Beers as a standalone entity.
What's Next?
De Beers will continue its exploration efforts in Angola, with plans for further drilling and analysis to determine the diamond potential of the newly discovered kimberlite field. The company aims to leverage its partnership with Endiama to maximize the benefits of this discovery. As the exploration progresses, stakeholders in the diamond industry will be watching closely to see how this find impacts global diamond supply and prices. Additionally, the ongoing divestment of De Beers by Anglo American may influence future strategic decisions and investments in the diamond sector.
Beyond the Headlines
The discovery highlights the importance of technological advancements in mineral exploration, as airborne surveys played a crucial role in identifying the kimberlite cluster. It also underscores the potential for international partnerships in resource-rich regions like Angola, where collaboration can lead to significant economic and developmental benefits. The ethical and environmental implications of diamond mining will continue to be a topic of discussion, as companies like De Beers navigate the balance between resource extraction and sustainable practices.
