LUANDA, Reuters -De Beers, a diamond miner has signed two contracts for mineral investments with the Angolan government. Anglo American On Wednesday (LON) the subsidiary announced that it was returning to southern Africa after leaving in 2012.

Contracts for license areas in northeastern Africa are for 35-years and grant De Beers rights to search and mine through two joint ventures with Endiama, Angola’s state diamond firm.

De Beers will own 90% and Endiama 10% of the joint ventures, respectively, Angola’s oil and natural resource minister Diamantino Azevedo stated at Luanda, the capital.

Azevedo declared that “De Beers’s Return to Angola Marks an Important Moment for the Country and for the Global Mining Sector.”

De Beers had previously searched for diamonds between 2005-2012 in Angola, but decided that the area wasn’t economically viable and gave up its concession.

Kimberley Process statistics show that Angola was number seven in terms of producing rough diamonds. The West’s sanctions against Russia, the largest diamond producer in the world, may have an impact on demand for other sources.

De Beers plans to begin exploring activities under the licensed areas this year. This is subject to regulatory approvals. In December 2012, the company stated that it applied for permission to explore in this country.

Bruce Cleaver, CEO of De Beers said that Angela has done a lot to make the country a safe and appealing investment destination.

Angola joined the Extractive Industry Transparency Initiative earlier this month as a gesture of transparency. Through it, countries can report publicly about their oil- and mining revenues.