Endiama, SDM and De Beers Suspend Legal Action

According to the Angola Press Agency, Endiama, Angola's Society of Mining Development (SDM) and De Beers have decided to 'solve their differences amicably, through meetings leading to bilateral cooperation.'

Under the terms of the October 15th moratorium, all parties are determined to resolve their disputes and seek the conclusion of new contracts that pave the way to a mutually advantageous bilateral cooperation in the field of diamond industry. 

In a jointly issued release, the companies state that they have asked the Angolan and umpire Courts to suspend, by December 31, the processes issued by De Beers against Endiama and SDM, and the ones jointly issued by these two against De Beers.

'Foreseeing a cooperation agreement, Endiama, SDM and De Beers are encouraged to engage their potential in the development of important projects of economic and social interest in Angola,' the companies note in their communique.