Major diamond discovery: De Beers unearths new kimberlite field in Angola
De Beers' joint venture in Angola has discovered a new kimberlite field, the most common source of mined diamonds, its first such discovery in three decades.
Image credit: De Beers
The Anglo American unit is jointly exploring for diamonds in Angola in partnership with the country's state-owned diamond company Endiama.
De Beers stated in a press release that the joint venture had intersected kimberlite in its first drill hole into a high-priority cluster of targets in July 2025.
The company stated that 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 Angolan government in April 2022, followed by agreements on diamond processing and exploration in 2024.
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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.