https://en.sputniknews.africa/20240903/angola-russia-working-to-ensure-alrosas-operations-in-african-country-says-ambassador-1068119514.html
Angola, Russia Working to Ensure Alrosa's Operations in African Country, Says Ambassador
Angola, Russia Working to Ensure Alrosa's Operations in African Country, Says Ambassador
Sputnik Africa
VLADIVOSTOK (Sputnik) - Russian diamond giant Alrosa holds a 41% stake in Angola's Catoca diamond mine, while Angolan state-owned Endiama holds a 41% stake in... 03.09.2024, Sputnik Africa
2024-09-03T09:47+0200
2024-09-03T09:47+0200
2024-09-03T16:13+0200
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Moscow and Luanda are working together to remove obstacles to Russian diamond miner Alrosa's operations in Angola, the country's ambassador to Russia, Augusto da Silva Cunha, told Sputnik at the Eastern Economic Forum (EEF-2024) currently taking place in Russia's Vladivostok. He stressed that Luanda was not going to hinder negotiations on further cooperation. In January, the Expаnsao publication reported that the Angolan authorities proposed that Alrosa withdraw from the co-ownership of the Catoca mining company due to problems with the sale of diamonds mined there due to international sanctions. The Russian side pointed to the investments made over the years, while the Angolan authorities, according to the publication, wanted to avoid financial compensation. In June, Russian Deputy Finance Minister Alexey Moiseyev said that Alrosa wanted to give the Angolan asset into good hands and was working constructively on the sale. Angola is one of the largest diamond mining nations in Africa. Catoca is owned by the Angolan state-owned company Endiama (41%), Alrosa (41%), and China-registered Lev Leviev International; it is the fourth largest open-pit mine in the world and the largest company in the Angolan diamond sector, responsible for the extraction of more than 75% of Angolan diamonds. Alrosa is the largest diamond mining company, the world leader in terms of diamond production and reserves, 34% of its shares are free float, the rest is owned by Russia and its home region of Yakutia. Last year, the company's diamond production amounted to about 34.6 million carats. The Eastern Economic Forum is being held from September 3 to 6 on the campus of the Far Eastern Federal University in Vladivostok. Sputnik is the general information partner of the EEF-2024.
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angola, russia, china, eastern economic forum (eef), diaspora, diamonds, minerals, mining, company, russia-africa cooperation
Angola, Russia Working to Ensure Alrosa's Operations in African Country, Says Ambassador
09:47 03.09.2024 (Updated: 16:13 03.09.2024) VLADIVOSTOK (Sputnik) - Russian diamond giant Alrosa holds a 41% stake in Angola's Catoca diamond mine, while Angolan state-owned Endiama holds a 41% stake in and China-registered Lev Leviev International owns the remaining 18%. The mine, the fourth largest open-pit mine globally, is responsible for producing over 75% of Angola's diamonds.
Moscow and Luanda are working together to remove obstacles to Russian
diamond miner Alrosa's operations in Angola, the country's ambassador to Russia, Augusto da Silva Cunha, told
Sputnik at the Eastern Economic Forum (EEF-2024) currently taking place in Russia's Vladivostok.
"It is true that the sanctions imposed on Russia have affected Alrosa's operations at the Catoca mine. But despite this, Angola and Russia are developing mechanisms to overcome the difficulties that have arisen," the diplomat said.
He stressed that Luanda was not going to hinder negotiations on further cooperation.
In January, the Expаnsao publication reported that the Angolan authorities proposed that Alrosa withdraw from the co-ownership of the Catoca mining company due to problems with the sale of diamonds mined there due to international sanctions. The Russian side pointed to the investments made over the years, while the Angolan authorities, according to the publication, wanted to avoid financial compensation.
In June, Russian Deputy Finance Minister Alexey Moiseyev said that Alrosa wanted to give the Angolan asset into good hands and was working constructively on the sale.
Angola is one of the largest diamond mining nations in Africa. Catoca is owned by the Angolan state-owned company Endiama (41%),
Alrosa (41%), and China-registered Lev Leviev International; it is the fourth largest open-pit mine in the world and the largest company in the Angolan diamond sector, responsible for the extraction of more than 75% of Angolan diamonds. Alrosa is the largest diamond mining company, the world leader in terms of diamond production and reserves, 34% of its shares are free float, the rest is owned by Russia and its home region of Yakutia. Last year, the company's diamond production amounted to about 34.6 million carats.
The Eastern Economic Forum is being held from September 3 to 6 on the campus of the Far Eastern Federal University in Vladivostok. Sputnik is the general information partner of the EEF-2024.
