De Beers to explore for diamonds in north-eastern Angola

7th December 2021 By: Creamer Media Reporter

De Beers to explore for diamonds in north-eastern Angola

De Beers CEO Bruce Cleaver

Diamond miner De Beers Group has applied to conduct exploration activities in north-eastern Angola following substantive and consistent reforms implemented by the country's government that enable the country’s diamond endowment to "underpin transformative socioeconomic growth for local communities".

Following the mineral rights application submission, De Beers and the government of Angola will open discussions in an effort to agree a mineral investment contract, which would establish legally binding terms and conditions to be met by both parties for activities in north-eastern Angola.

“Angola has made significant progress towards creating a stable and more predictable investment environment in which the people of Angola can directly benefit from increased foreign direct investment. As a result of this – and with De Beers’ recognised Building Forever framework for creating lasting positive socioeconomic impact for communities, our innovative FutureSmart Mining programme that is transforming mining technologies to deliver a significantly reduced environmental footprint, and our proven record of establishing responsible and mutually beneficial partnerships in the region – we look forward to positive and transparent discussions with government about the possibility of future investment.

“In line with the Organisation for Economic Cooperation and Development Due Diligence Guidance for Responsible Supply Chains, we believe that responsible foreign investment by the private sector can be an important catalyst for social change in countries working to reform their economies. Should we discover an investment opportunity in the region, we will apply the same proven governance, social impact and environmental framework that has contributed to long-term and sustainable socioeconomic development in the neighbouring countries of Botswana and Namibia,” comments De Beers CEO Bruce Cleaver.