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Alrosa, Endiama Aim to Develop Angola Industry

Companies have signed a memorandum of understanding for joint projects in the country.
Apr 7, 2019 8:03 AM   By Rapaport News
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RAPAPORT...
Alrosa has signed an agreement with Angola’s state-run diamond-mining company to develop joint projects and share information.

Alrosa and Endiama have committed to work together on research and exploration projects in Angola. The Russia-based miner will also provide training for Angolan specialists at its facilities.

“For both Russia and Angola, the diamond industry is an important part of national life,” Alrosa CEO Sergey Ivanov said last week. “This is [about] jobs for people and dozens of social projects implemented for them. We are pleased to seal our long-term cooperation with an official document proclaiming the joint desire to develop our common initiatives.” 

Under the memorandum of understanding — which was signed by Ivanov and José Ganga Junior, chairman of Endiama’s administrative council — the parties will share technology and knowledge on mining and the diamond industry, as well as cooperate on diamond sales.

The companies will partner to create industry-wide initiatives aimed at promoting diamond products in key markets, and will work on the development of global industry self-regulation mechanisms, Alrosa added.

Alrosa and Endiama are cofounders of Catoca, Angola’s largest diamond mine and the fourth-largest in the world. The companies have been conducting exploration in the country as part of a joint venture since 2014.

Image: Rough-diamond sorting at Alrosa. (Alrosa)
Tags: Alrosa, Angola, Catoca, ENDIAMA, Jose Ganga Junior, memorandum of understanding, Rapaport News, Sergey Ivanov
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