[miningmx.com] – DE BEERS, the Anglo American controlled diamond miner, said it was confident of uncovering a diamond mine in Angola that would help it recoup some $250m in exploration it had spent there, Bloomberg News said citing Pedro Lago de Carvalho, De Beers’s business manager in the country.
De Beers has discovered diamonds in a prospect called Lucapa which is located in the Lunda North province, Bloomberg News said. The 3,000 square kilometre area is the only remaining concession of five De Beers has explored since 2005.
“We are confident we can find something that will allow us to recover all our investment,’ said Lago de Carvalho. “The contract is clear, there is no debate.’
Lucapa was described as still in exploration phase. “We don’t have a deposit,” Lago de Carvalho said.
Angola, which sold 8.33 million carats valued at $1.16bn in 2011, absorbs about $30m of De Beers annual exploration budget, Bloomberg News said.
