The deal on sale of a share in Russia’s diamond producer Alrosa in the Angolan project Catoca may be closed this month, Deputy Finance Minister Alexey Moiseev said. The deal has not been closed yet, he noted. “[It] will be closed this month,” Moiseev told reporters.
Alrosa has been working in Angola since 1992. It holds 41% in the Catoca mining holding (another 41% is owned by the Angolan state company Endiama, 18% is held by the international holding LL International Holding B. V.).
Catoca is the largest kimberlite pipe in Angola and the world’s fourth-biggest diamond mine in terms of deposits and diamond mining. Every year around 6.8 mln carats of diamonds are mined there.
Moiseev said earlier that Alrosa would quit the Catoca project, while the Angolan side believes that the participation of a Russian company as a shareholder hinders development of business as many market participants refuse to work in the project over Alrosa’s participation in it.
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