De Beers Slated to Begin Diamond Exploration in Angola
The company has signed two Mineral Investment Contracts for license areas in northeast Angola.

The diamond miner and marketer said Wednesday it has signed Mineral Investment Contracts, or MICs, with the Angolan government for two license areas in the northeast quadrant of the country.
The MICs are for the award and exercise of mineral rights covering all stages of resource development, from exploration to mining. They are good for 35 years.
A separate, new joint venture company comprised of De Beers Group and Angola’s state-owned diamond company, Endiama, will hold each concession area.
De Beers will maintain a “substantial majority” (90 percent stake) in the new companies while Endiama will have the ability to incrementally increase its equity share over time, in line with “certain conditions” outlined in the shareholder agreements.
Wednesday’s announcement follows De Beers’ December news that it had applied for permission to look for diamonds in Angola.
According to Reuters, De Beers last operated in the country between 2005 and 2012, carrying out exploration activities but not finding an economically viable deposit to mine.
“The signing of these contracts represents an important milestone in our new partnership with Angola, which is based on a mutual desire to build a thriving diamond sector that delivers meaningful socioeconomic benefit for Angola’s citizens,” CEO Bruce Cleaver said.
“Angola has worked hard in recent years to create a stable and attractive investment environment and we are pleased to be returning to active exploration in the country.”
The world’s two other largest diamond miners, Alrosa and Rio Tinto, already are operating in Angola, though Alrosa’s goods remain under sanction in the U.S.
De Beers said it expects to start exploration activities in Angola this year, pending regulatory approvals.
Diamond mining will take place only if the company finds a deposit that’s economically feasible to develop.
The Latest

Located on Rodeo Drive, the store’s design was inspired by Hollywood and Los Angeles culture.

The new location continues the brand’s celebration of its 25th anniversary.

The online watch marketplace’s “Time Is Our Thing” campaign highlights the importance of time.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

Working with Amazon’s Counterfeit Crimes Unit and law enforcement, Pandora helped to shut down a large-scale counterfeit network in China.


The jewelry company has closed its three California brick-and-mortar stores, as well as its online shop, for now.

The company is providing the opportunity for an FIT student to work alongside master diamond cutter Willie Lopez in its workshop.

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

He is remembered for his successful entrepreneurship, generosity, and dedication to his family.

The jewelry store chain has reportedly been struggling with costs related to tariffs as well as tough retail competition.

Welcome warm summer days with red hot rubies perfectly chosen as July’s birthstone.

Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.

The best time to prepare for the holiday season is right now, according to columnist Emmanuel Raheb.

This year’s winner is Morgan Keefe, who is currently studying at GIA to be a gemologist.

“The Jewelry Book” comes out this September.

The company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.

Following its recent acquisition, the storied brand has updated its leadership team and regional managers.

AGS also named the recipient of its “Women in Leadership” scholarship.

The 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.

Rocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.

The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.

The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.

The “Playlist: Electric Dreams” collection brings lyrics from the musician’s song, “Little Wing,” to life through fine jewelry.

The event is set for May 16-19 in Detroit, Michigan.

The Vault’s Katherine Jetter is accusing the retailer of using info she shared for a potential partnership to move into Nantucket.

Agents seized 2,193 pieces, a mix of counterfeit Cartier “Love” and “Juste Un Clou” bracelets, and Van Cleef & Arpels’ “Alhambra” design.

The designer brought her children’s book, “The Big Splash Circus,” to life through a collection of playful fine jewelry characters.