ALROSA continues negotiations with the Angolan authorities about Katok – Kommersant
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ALROSA (MOEX: ALRS) and the Angolan government are negotiating a joint project called Catoca, said Deputy Minister of Finance of Russia Alexey Moiseev. He noted that “there is definitely no aggression,” but ALROSA, as a sanctioned company, has limitations “in terms of asset development,” and this worries the Angolan side.
“We do have certain problematic issues in relations with the government of the Republic of Angola. But they are now in the negotiation process, there are active negotiations on how best to resolve these issues. The way Western countries behave, this, of course, will not happen,” Mr. Moiseev told reporters (quoted from TASS).
The deputy minister noted that the essence of the negotiations is to ensure the “progressive development of local assets,” which is difficult due to sanctions. “Solution options are still being studied,” he added.
By information According to the Angolan publication Expansao, the republic is forcing the Russian diamond mining group to withdraw from the share capital of Sociedade Mineira de Catoca. ALROSA in October 2023 denied negotiations on withdrawal from Angola.
ALROSA owns a 41% stake in the Catoca mining association, the fourth largest deposit in the world in terms of diamond deposits and production. In May, Sergei Ivanov, who at that time headed ALROSA, said in an interview with Kommersant that the company does not plan to leave Angola, despite “certain difficulties with banks.”
About the problem with the Angolan asset – in the material of Kommersant FM “Angola asked ALROSA to leave”.
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