The company name of De Beers is displayed in Hong Kong, China September 14, 2016.
De Beers reported that the joint venture identified kimberlite in its initial drill hole in July 2025, targeting a high-priority cluster. The company stated: “The joint venture had hit kimberlite in its first drill hole into a high-priority cluster of targets in July 2025.” Kimberlites, rare volcanic rocks, are a primary source of mined diamonds, carrying them to the surface during eruptions.
To evaluate the find, De Beers plans further drilling, geophysical surveys, and laboratory analysis over the coming months to determine the kimberlite’s type and diamond potential. This discovery follows De Beers’ return to Angola in 2022, after a decade-long absence due to prior unsuccessful exploration efforts. The company signed two mineral investment contracts with the Angolan government in April 2022, followed by agreements in 2024 for diamond processing and exploration.
Anglo American, De Beers’ parent company, is divesting its stake in the diamond business to focus on copper and iron ore assets. In June 2025, sources informed Reuters that De Beers attracted interest from at least six groups, including Indian diamond companies, commodities billionaire Anil Agarwal, and Qatari investment funds.
