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De Beers Applies To Explore In Angola Following Substantive Reforms December 07, 2021 (0 comments)
Gaborone, Botswana—De Beers Group has applied to conduct exploration activities in northeastern Angola following substantive and consistent reforms implemented by that country’s government, allowing the country’s diamond endowment to underpin transformative socioeconomic growth for local communities. Image: The Catoca mine, the largest in Angola, is owned by a consortium of Endiama (Angola), Alrosa (Russia), Odebrecht (Brazil), and the Diamond Finance CY BV Group.
Following the Mineral Rights application submission, De Beers Group and the Government of Angola will open discussions in an effort to agree a Mineral Investment Contract, which would establish legally binding terms and conditions to be met by both parties for activities in northeastern Angola.
Bruce Cleaver, CEO of De Beers Group, said: “Angola has made significant progress towards creating a stable and more predictable investment environment in which the people of Angola can directly benefit from increased foreign direct investment. As a result of this, and with De Beers’ recognized ‘Building Forever’ framework for creating lasting positive socioeconomic impact for communities, we look forward to positive and transparent discussions with government about the possibility of future investment.”
De Beers’ FutureSmart Mining™ program is transforming mining technologies to deliver a significantly reduced environmental footprint, and the company has a proven track record of establishing responsible and mutually beneficial partnerships in the region, he added.
“In line with the OECD Due Diligence Guidance for Responsible Supply Chains, we believe that responsible foreign investment by the private sector can be an important catalyst for social change in countries working to reform their economies. Should we discover an investment opportunity in the region, we will apply the same proven governance, social impact and environmental framework that has contributed to long-term and sustainable socio-economic development in the neighbouring countries of Botswana and Namibia,” continued Cleaver.