De Beers’ activities in Angola “crowned with success”

8 February 2012

Cape Town, South Africa, 8 Feb – Diamond prospecting activities carried out in Angola by South African group De Beers are being “crowned with success,” Angola’s Geology, Mining and Industry Minister said in Cape Town Tuesday.

At the end of a meeting with the group’s chief executive for prospecting, Charles Skinner, Minister Joaquim David said that, under the terms of the new Mining Code, his ministry was finalising the creation of a negotiation commission to deal with issues related to De Beers’ activities in Angola.

“We agreed, as soon as possible but before the end of this prospecting stage, to bring technicians and negotiators from both sides together to prepare De Beers’ new phase of activities in Angola which, we hope, will involve exploration of the concession area,” the minister said cited by Angolan news agency Angop.

Skinner said that the group was now facing a new legal framework in Angola, with the approval of the new Mining Code, and added that it was analysing the way in which to move ahead in order to safeguard its interests at the concession in Angola.

So far, De Beers has invested US$150 million in the project it is implementing in northeast Angola, and total investment is expected to reach US$180 million.

Minister Joaquim David is in Cape Town heading up an Angolan delegation at the “Mining Indaba” International Mining Conference. (macauhub)