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De Beers Hopes for Diamond Exploration Rights

De Beers, the world's largest diamond miner by market value, hopes to obtain a concession to explore in Angola by the end of this year, chief executive Philippe Mellier said.The London-based company, majority-owned by global miner Anglo American, is also holding initial talks with India about exploring in some areas in the centre-north of the country."We expect to have news about exploration licenses before the end of this year and we are in contact with the Angolan government to discuss that. We hope that it's going to be successful," Mellier told Reuters in an interview last week.Early stage work in Angola should start later this year, a spokesman for the company added.Russia's Alrosa, De Beers' main competitor, already operates the Catoca mine in Angola, the world's fourth-largest, in a joint venture with Angola's state-owned Endiama.De Beers previously explored for diamonds in Angola between 2005 and 2012 but concluded that a stand-alone deposit in the area was not economic and rel...

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