Russian diamond mining company ALROSA has withdrawn from a diamond mining project in Angola due to sanctions.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
SMK filed a lawsuit against the Moscow enterprise JSC "MMZ Skorost"
Roscosmos approves final schedule: the first ROS module will go into orbit in 2 years
The test flight will take place in June 2026
Ivan Khamin proposed an engine design with coupled turbines
Aircraft No. 96115 completed a flight from Zhukovsky to Novosibirsk and back
The platform allows you to send short videos to random people and watch other people's video messages
Likhachev spoke at the AtomSkills championship in Yekaterinburg
The General Designer of NPO Mashinostroyeniya was 74 years old
New friction stir welding technology creates strong bimetallic joints without delamination
Patented technology simplifies the production of lightweight and rigid thin-walled structures
The electromechanical device spins dozens of metal and fiberglass cables, creating a protective zone