Mining and Exploration
12/09/2024 09:52
Angola and Russia are reportedly negotiating a deal that may allow Alrosa to retain its 41 percent stake in the Catoca diamond mine, despite initial pressure from the Angolan government for Alrosa to exit due to G7 sanctions.
The Angolan ambassador to Russia indicated that both countries are developing mechanisms to overcome the operational challenges caused by the sanctions. Although Alrosa was previously reported to be considering selling its stake, it remains unclear whether the negotiations will result in Alrosa maintaining its share in the mine.
Earlier this year, Russia’s deputy finance minister noted that discussions on the sale were ongoing with ‘friendly investors.’
Photo credits: IDEX Online
