Ver Angola

Raw Materials

Russian mining giant Alrosa says is in Angola to stay

The director general of the Angolan branch of Russian mining giant Alrosa confirmed the company's interest in the country and guaranteed that it is in Angola to stay.

:

"We believe in the country and we are here to stay for many years," Alexander Gorlov told Lusa, in Saurimo (Lunda Sul), where the 1st International Diamond Conference (AIDC) continues.

"We have been here for many years, which demonstrates the Angolan national as an investment destination, we are in Catoca [the main Angolan mine, responsible for more than 80 percent of diamond production], we have an exploration project with Endiama and we are investing in new areas, in new potential deposits", he pointed out.

Among these is the so-called Luaxe project (Catoca, east of the country), which is in the last exploratory phases and should be launched soon, as it is currently the largest potential deposit in Angola.

Alexander Gorlov also welcomed the entry of other multinationals, such as Rio Tinto, which, like Alrosa, could give a big boost to diamond production.

"We see our colleagues working here and this is positive, it is a good sign, it means that companies see potential here, the investment is coming," he declared to Lusa.

The head of Alrosa also considered that the steps that the executive has taken in terms of restructuring the sector are positive, including changes in marketing, now made "with more transparency and better yield for producers" and the separation of the functions of regulation of production and exploration.

Asked about the values ​​of Alrosa's investment in the country, he also said that the numbers are still being worked on, as it has been done in a phased manner.

"We started the geological process in 2014, but the investment in Luaxe has been going on since 2012 and now it has been intensified", he indicated, without advancing when the production phase could begin. "As soon as the exploration phase is concluded and when the feasibility study is concluded, then we will be able to say", he added.