Russian diamond mining company ALROSA has withdrawn from a diamond mining project in Angola due to sanctions.
The company's stake in the Angolan mining company Catoca was acquired by a structure of the Sovereign Fund of Oman - Tadeen. Now this structure owns 41% of the shares previously held by ALROSA, and the remaining 59% remain with the state-owned Angolan diamond company Endiama Mining SA.
The exact date of the transfer of the share is not disclosed. On May 27, Angolan media reported that Tadeen had joined the share capital of Catoca after ALROSA withdrew from the project and transferred its share to Endiama. ALROSA itself declined to comment.
Angolan authorities in 2023 asked Russia to withdraw from the project due to sanctions imposed on ALROSA by the US and the European Union. These restrictions also include a ban on the import of Russian diamonds into Western markets. Despite this, Angolan President of Endiama, José Ganga Júnior, stated that diamonds produced in Angola are not subject to sanctions, but cooperation with the Russian company deters some customers.
Related materials:
ALROSA Company created \"New Sun\" - the largest diamond in the history of Russia
\"New Sun\": the largest yellow diamond in the history of Russia is being put up for auction
Now on home
The service contains data on 45,000 fraudulent sites
Modernized engines may equip the Lada Azimut crossover
The price is 132 billion 265.8 million rubles
The manufacturer plans to strengthen its lineup of light commercial vehicles
The production of carbon fiber was organized in the shortest possible time
Electric vans will speed up the repair of urban transport infrastructure
Countries are working to synchronize regulations in the field of AI
The service's average daily audience is 55 million people
Stable Isomaterial Based on Metakaolin Has a Density Below 300 kg/m³
Re-identification quality improved twofold with new DynaMix method
Russians will be able to find out about debts online