De Beers Revives Mining Plans for Angola
December 09, 21
(IDEX Online) - De Beers has revived plans to invest in Angola, after what it describes as "substantive and consistent reforms" in the country.
The UK-based miner carried out exploration activities in Angola between 2005 and 2012 - shortly after the end of the 27-year civil war - did not find a suitable project.
It announced this week that it has applied to the government for permission to conduct exploration activities in north-east of the country.
"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," said De Beers CEO Bruce Cleaver said in a statement.
Angola is the world's fourth biggest diamond producer, with a forecast output of 10.1m carats in 2022, but it has yet to explore 60 per cent of its diamond-rich territories.
Pic shows Catoca mine, Angola, owned in part by Alrosa and Endiama