De Beers in Angola
A subsidiary of Anglo American plc (LSE: AAL), De Beers is the world’s largest diamond company by value, controlling an estimated 30-35% of global rough diamond production. The company holds exploration licences in Angola, which ranks as the world’s fifth-largest diamond producer by volume and third-largest by value, with annual output exceeding $1 billion.
Key Facts
- Company: De Beers Group
- Parent: Anglo American plc (LSE: AAL)
- Global HQ: London, United Kingdom
- Angola Activity: Diamond exploration licences
- Local Partner: Empresa Nacional de Diamantes (Endiama EP) – Angola’s state diamond company
- Angola’s Diamond Rank: 5th globally by volume, 3rd by value
- Angola’s Annual Diamond Output: Approximately 8-9 million carats (Kimberley Process data)
- Key Diamond Provinces: Lunda Norte, Lunda Sul
Exploration and Strategy
De Beers’ engagement in Angola has historically been more limited than in its primary producing countries – Botswana, Namibia, South Africa, and Canada – but the country’s geological potential is substantial. Angola’s diamond-bearing kimberlite pipes and alluvial deposits are concentrated in the northeastern Lunda Norte and Lunda Sul provinces, an area that has been mined artisanally and industrially for decades but remains underexplored by modern geophysical standards. De Beers holds exploration licences that allow the company to conduct prospecting and evaluation of kimberlite targets, typically in joint ventures or partnerships with Endiama (Empresa Nacional de Diamantes EP), the state entity that controls all diamond mining concessions.
Under Angolan mining law, Endiama holds sovereign rights over diamond resources and participates as a mandatory partner in all mining projects, usually retaining a carried interest of at least 20-30%. This framework mirrors the production-sharing model used in the oil sector through Sonangol (Sociedade Nacional de Combustiveis de Angola EP). International miners must negotiate concession terms with Endiama and comply with Angolanizacao (local content) requirements covering employment, procurement, and technology transfer.
The diamond sector is a critical component of Angola’s economic diversification agenda. Endiama has been identified as an IPO candidate under the ProPriv privatisation programme (Programa de Privatizacoes), with a planned partial listing on BODIVA targeted for 2026. A successful Endiama IPO would represent a landmark event for the exchange, bringing resource-sector exposure to Angolan capital markets for the first time and potentially attracting institutional investors with mining-sector mandates. De Beers’ presence in the country reinforces Angola’s credibility as a mining jurisdiction and signals that the geological opportunity is recognised by the industry’s most established player.