De Beers to Invest in Angola Mining

De Beers has announced that it plans to invest $25.4 million in new mining projects in Angola.

The company noted that exploration results in Angola and the Democratic Republic of Congo were "promising." It added that mines would be opened if current studies attest to their economic and social viability.

Angola`s Geology and Mining Minister, Manuel Africano, recently stated that the country would net about $1 billion from diamond sales via the Endiama diamond company this year.

Earlier this year, De Beers was awarded three concessions by the Endiama diamond company near its Lunda Nordeste concession.