Omani firm replaces sanctions-hit Alrosa in Angolan diamond miner
A subsidiary of the sovereign wealth fund of Oman is replacing Russian sanctions-hit Alrosa in Angola's state-controlled diamond miner Catoca, an Angolan official said on Thursday.
Angola has been under pressure to cease its long-standing partnership with Russian state-controlled Alrosa, the world's largest producer of rough diamonds by volume, since 2022 when the West imposed sanctions on Alrosa for Moscow's invasion of Ukraine.
"From now on, we have a new partner and this partner is the one that will exercise the rights that until now belonged to Alrosa," Diamantino Azevedo, Angola's minister of mineral resources, oil and gas, told a national radio station.
"Alrosa, a partner of Endiama in the Catoca mining company, will cease to be a partner of this company and, consequently, also a partner of the Luele mining company," he added.
Alrosa, which owned 41% in Catoca, declined to comment.
Azevedo did not provide any further details about the deal with the Omani firm.
Having sanctions-hit Alrosa as a shareholder in the Angolan diamond miner was affecting "Angola's credibility in the international diamond market," the minister said.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation