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De Beers, Endiama  report first new kimberlite field in over 30 years in Angola

De Beers Group, in partnership with Angola’s Endiama, has discovered a new kimberlite field—its first in over 30 years—during initial drilling in July 2025. The find marks a major milestone in their long-term collaboration to responsibly develop Angola’s diamond resources.

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De Beers Group, in partnership with Angola’s national diamond company Endiama, has reported the discovery of a new kimberlite field in Angola—the company’s first such find in over 30 years.The breakthrough occurred in July 2025, when the joint venture intersected kimberlite in its very first drill hole, targeting a cluster of high-priority sites identified through airborne surveys earlier in March 2025.

In the months ahead, De Beers and Endiama will carry out additional drilling, ground geophysical studies, and laboratory testing to confirm the nature of the kimberlite and evaluate its diamond-bearing potential.The find marks a significant milestone in the partnership between De Beers and Angola. It comes on the back of two Mineral Investment Contracts signed in April 2022 and a Memorandum of Understanding agreed at the 2024 Mining Indaba. These agreements have laid the foundation for a long-term collaboration focused on responsibly developing Angola’s diamond resources.

Al Cook, CEO of De Beers Group, said: “Angola is, in our view, one of the best places on the planet to look for diamonds, and this discovery reinforces our confidence. It is a powerful reminder of what can be achieved through partnership, and I commend President Lourenco and his government for all the work they have done to enhance transparency, adopt international best practices, and create a business friendly environment, all of which has enabled us to return to Angola and seek new sources of supply. 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.”

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DiamondBuzz

Lesotho’s Kao Diamond Mine To Halt Operations Amid Industry Slump

The Mine’s Operator, Storm Mountain, Cited A Severe Financial Crisis Driven By A Prolonged Drop In Global Rough-diamond Prices, Rising Middle East Conflict

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Lesotho’s largest diamond mine, Kao, will cease operations on June 30 and transition to care and maintenance. The mine’s operator, Storm Mountain, cited a severe financial crisis driven by a prolonged drop in global rough-diamond prices, rising Middle East conflict-related fuel costs, and stiff competition from lab-grown diamonds.

Despite a warning last October that the mine required $13 million in fresh capital to survive, the necessary investment did not materialise. According to CEO Neo Hoala, the steep market decline made continued operations unsustainable. The shutdown will impact roughly 750 workers.

The mine’s financial downturn is stark: in 2024, Storm Mountain sold 250,000 carats for $50 million—a massive drop from its $105 million revenue in 2022. Kao’s suspension reflects a broader crisis in the diamond sector, following recent insolvencies and closures at Canada’s Ekati mine and South Africa’s Ekapa and Finsch mines.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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