Russian diamond miner Alrosa has signed a memorandum of understanding (MoU) with Democratic Republic of Congo (DRC) State-owned diamond miner Societé minière de Bakwanga (MIBA) to increase their collaboration.

The MoU defines areas of mutual interest and the potential for cooperation in the diamond mining industry.

In particular, the document describes opportunities for the companies to work together to explore, mine and process diamonds in accordance with the global best practices for responsible business conduct, sustainable development and transparency.

The parties also intend to exchange technologies and knowledge to ensure the sustainable development of the diamond mining industry.

Under the MoU, the companies will cooperate in line with international mechanisms of industry self-regulation and international standards for responsible diamond supply chain engineering.

Representatives from Alrosa and MIBA have noted that the signing of the MoU will mark a new stage in the development of the diamond mining industry in the DRC.

DRC government adviser Kacy Grine says the strategic partnership between Alrosa and MIBA will create significant value for the Congolese mining industry, its economy and its people.

This partnership will also strengthen the relationship between Russia and the DRC and pave the way for further cooperation between the two countries.

Alrosa deputy CEO Vladimir Marchenko notes that the diamond mining sector continues to play an important role for both Russia and the DRC.

“This means that it not only impacts their position on the global stage, but that it also helps money flows into the budgets and also creates jobs for the local communities, dozens of social projects, as well as opportunities for local suppliers.

“We express our willingness to share our practical experience, as well as technical and professional resources with our colleagues at MIBA, for a dynamic and efficient implementation of future projects in diamond mining."