De Beers reports the discovery of kimberlite in Angola
De Beers announced on Tuesday that it has made its first find of this kind in thirty years: a fresh kimberlite field in Angola. Kimberlite is the most prevalent source of mined diamonds.
In collaboration with the state-owned diamond company Endiama, Anglo American (AAL.L) has opened a new tab unit to explore for diamonds in Angola.
In July 2025, De Beers reported in a statement that the joint venture had struck kimberlite in its first drill hole into a high-priority cluster of prospects.
To verify the kimberlite type and evaluate its diamond potential, the business stated that additional drilling, geophysical surveys, and laboratory investigation will be carried out over the coming months.
Diamonds are brought to the surface by volcanic explosions in kimberlites, a rare kind of rock.
After a decade of unproductive exploration, De Beers returned to Angola in 2022. In April 2022, the mining tycoon inked two mineral investment contracts with the Angolan government. In 2024, it signed deals on diamond discovery and processing.
Anglo American, the parent firm, is selling up De Beers as part of its plan to concentrate on its iron ore and copper holdings.
According to sources close to the companies, De Beers has attracted interest from at least six consortia, including Qatari investment funds, Indian diamond corporations, and commodities tycoon Anil Agarwal, Reuters reported in June.
