Diamond giant De Beers discovers kimberlite field in Angola, first in 30 years

De Beers has uncovered a new kimberlite field in Angola, its first such find in three decades, the diamond giant said on Tuesday.

In July, the Anglo American unit, in partnership with Angola’s state-owned diamond firm Endiama, struck kimberlite in its first drill hole targeting a high-priority cluster identified from airborne surveys conducted in March 2025.

Kimberlites, a rare volcanic rock that carries diamonds to the surface, are the primary source of mined gems.

Over the coming months, further drilling, ground geophysical surveys, and laboratory analysis will be conducted to confirm the kimberlite type and assess its diamond potential.

“Angola is, in our view, one of the best places on the planet to look for diamonds, and this discovery reinforces our confidence. We are excited about the role De Beers can play in helping the country deliver on its huge potential, both below and above the ground,” Al Cook, CEO of De Beers Group, said.

This latest milestone builds on the foundation of two Mineral Investment Contracts signed between De Beers and the Government of Angola in April 2022, and a Memorandum of Understanding signed at Mining Indaba in February 2024.

Parent company Anglo American is currently divesting De Beers to focus on copper and iron ore.

At least six potential buyers, including commodities billionaire Anil Agarwal, Indian diamond companies, and Qatari investment funds, have expressed interest, according to sources.