Ver Angola

Raw Materials

Government says exit of Russian mining company Alrosa dependent on political analysis

The Government said that the withdrawal of the Russian multinational Alrosa from the Catoca project depends on ongoing political analyses, believing that there will be no ban on the sale of Angolan diamonds in the European Union (EU).


“There is no prohibition from the European Union regarding the commercialization of Angolan diamonds, the European Union focuses on a company that is a partner of Catoca [Alrosa], but we are in political means to resolve the situation”, said the Secretary of Mineral Resources, Jânio Vitor Correia.

Speaking on the sidelines of the ceremony to present the achievements of the diamond subsector in 2023, the government official, who did not mention the name of the Russian multinational in his speech, assured, however, that there will be no ban on the sale of Angolan diamonds in Europe.

“I can guarantee that, in principle, we are taking care of the situation and there will not be a ban on the commercialization [of Angolan diamonds], since we have, in addition to Catoca, a series of mining companies and projects where we do not there is a presence of this company”, giving the example of Sociedade Mineira do Luele, “where the company is not present either”, he responded to journalists.

The possible departure of the Russian mining company Alrosa from Sociedade Mineira de Catoca, where it holds a 41 percent stake, is a subject that has been addressed since the end of 2023, within the framework of the sanctions imposed following the invasion of Ukraine.

Sociedade Mineira de Catoca is a national diamond prospecting, exploration, recovery and marketing company. Its shareholder structure is made up of Endiama (41 percent), Alrosa (41 percent) and Endiama Mining (18 percent), a portion expropriated in 2022 from Leviv International Holding BV.


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