(3 minutes read)
- South African company De Beers applied for permission to conduct exploration activities in north-eastern Angola
- De Beers is the world’s largest diamond producer,
- Of late, Angola has passed substantive and consistent reforms in its diamond mining sector to attract more investments and to pave the way for a transformative economy more focused on inclusivity
- Dee Beers will shortly hold negotiations with the Angolan government for a diamond mining investment deal
- Angola has the presence of two of the world’s largest diamond miners operating in the country such as the top Russian diamond miner Alrosa and fourth largest Rio Tinto.
South African company De Beers applied for permission to conduct exploration activities in north-eastern Angola. De Beers is the world’s largest diamond producer,
Of late, Angola has passed substantive and consistent reforms in its diamond mining sector to attract more investments and to pave the way for a transformative economy more focused on inclusivity. Dee Beers will shortly hold negotiations with the Angolan government for a diamond mining investment deal.
Angola has the presence of two of the world’s largest diamond miners operating in the country such as the top Russian diamond miner Alrosa and fourth largest Rio Tinto. If De Beers exploration license is granted, Angola will become the only country where three top diamond companies operate. The West African country is the world’s sixth-largest diamond producer and the third in Africa. It produced 8 million carats in 2020, a 15.4% decrease from 2019’s 9.4 million.
Of late, Angola is taking steps to reduce its over dependency on oil. Mining of diamonds is an area the country is focusing. Towards that, Angola enacted reforms to its mining sector geared towards improving the regulatory environment.
