De Beers Plans Return to Angola Diamond Exploration

Reuters reported that according to Francisco Queiroz, Angola’s geology and mines minister, the country plans to approve a new concession that will allow major miner De Beers to explore for diamonds.

As quoted in the market news:

London-based De Beers, majority-owned by global miner Anglo American, previously explored in Angola between 2005 and 2012 but relinquished its concession.

‘The company made that big investment in prospecting, and unfortunately it didn’t have great results, but it is making a new bid, and another investment will be approved,’ Queiroz told the Reuters Africa Summit on Thursday.

Click here to read the full Reuters report.