De Beers Signs on to Help Develop Angola’s Diamond Sector

De Beers will collaborate with Angola on increasing diamond production, supporting the alluvial mining sector and enhancing the country’s social development.

The miner signed a Memorandum of Understanding (MOU) with Endiama, Angola’s state-owned diamond company, and Sodiam, the region’s diamond-trading company, to help advance the sector and create more opportunities for the benefit of Angola’s citizens, De Beers said Tuesday. Angola’s National Mineral Resource Agency was also a signatory.

The agreement extends the mining giant’s relationship with Angola, following the signing of contracts in 2022 for diamond exploration in the northeast. The new deal sets out key areas where the two parties will work together, including reviewing a number of kimberlite deposits to reassess their economic viability, promoting the transparency and traceability of diamond production, and identifying opportunities to build up the local community.

“I’m delighted to strengthen our partnership with Angola and to collaborate with [the] government, Endiama and Sodiam to further develop the country’s diamond sector for the benefit of its people,” said De Beers CEO Al Cook. “Angola continues to set an example as a country that has reformed its prospects through enhanced transparency, adoption of internationally recognized best practices and a business-friendly investment environment. Returning to Angola in 2022 was a significant step for De Beers, and we see a bright future in the country.”