De Beers says it will find diamonds in Angola

The US$250 million De Beers has already spent on prospecting will yield a diamond deposit, the company is confident that it will find a diamond deposit in Angola.

De Beers has already found diamonds at the Mulepe concession, in Lunda Norte province; De Beers has a 49 percent share, Endiama hasthe remaining 51 percent.

In 2001 after its right to sell diamonds worth US$800 million was revoked, The De Beers group left Angola but returned in 2005.

According to the Kimberley Process, Angola sold 8.33 million carats of diamonds worth US$1.16 billion in 2011.

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