Alrosa Acquires 90% of Angolan Diamond Trader

MOSCOW. Jan 17 (Interfax) – Alrosa (RTS: ALRS), Russia’s Yakutia- based diamond monopoly, has acquired 90% of the shares in Angola- based Rosan Mining and Investments Company, Alrosa said in a statement.

Alrosa told Interfax that the other 10% of Rosan belonged to Angola’s Sky-Investimentos & Participacoes. Alrosa currently procures uncut diamonds in Angola via Rosan.

Rosan was set up to carry out mining projects, including diamond prospecting, exploration and mining, and the processing, valuation and sale of uncut diamonds. It also provides logistics and support to the mining industry.

Alrosa representatives head Rosan’s administrative council and general directorate.

Alrosa owns a 32.8%-stake in the Catoca mining project in Angola. Catoca produces 3% of the world’s diamonds.

The Russian company is also commissioning the first stage of the Kamachia-Kamajiku mine at the Luo diamond field and is building a 16- megawatt hydroelectric dam to feed the mine with electricity.

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