De Beers says that early data indicate that their two concession sites in the Angolan provinces of Lunda Norte and Lunda Sul have great geological potential.
Group spokesperson David Johnson told Rough&Polished’s Mathew Nyaungwa in an exclusive interview that they are looking forward to commencing fieldwork to investigate this further through their joint venture partnership with the state-owned Endiama.
Fieldwork will primarily focus in airborne surveys while also preparing for the discovery drilling process.
Johnson said that De Beers will initially have a 90% share in the JV, with Endiama holding the remaining 10%, with the potential for this to increase to 20% over time in line with certain preconditions.
The diamond group signed mineral investment contracts with the Angolan government last year for a term of 35 years.
Johnson said De Beers considers Angola to be one of the most prospective and underexplored countries in the world for diamonds.
