De Beers Plans to Dig Angola Mine to Recoup $250M Expense

Bloomberg reported that the world’s biggest diamond producer, De Beers, said it is very confident that it will find a substantial gem deposit in a concession near Lucapa in the Lunda North province, in Angola.

As quoted in the market news:

The results of evaluation studies of three ore bodies known as kimberlites at Mulepe, about 800 kilometers (500 miles) east of Luanda, are expected in about two months, and will be followed by meetings with Endiama to decide how to proceed, Lago de Carvalho said.

Click here to read the full Bloomberg report.