Industry News by Nemesis

ALROSA President Visits Angola

May 17, 2017

The president of ALROSA Sergey Ivanov paid a working visit to the Republic of Angola.
Sergey Ivanov inspected the production facilities of the company and held a number of working meetings with Angolan partners to discuss the prospects for the development of ALROSA investment projects in the country. 


During the meeting with Carlos Sumbula, Chairman of the Board of Directors of the National Diamond Mining Company of the Republic of Angola Endiama, Sergey Ivanov noted the positive financial results of the Katoka Mining Company. "Last year, the project reached revenues of almost $600 million and became completely self-sufficient. We are ready to take an active part in its further development and expect to increase financial efficiency," - Ivanov said. 


The parties also agreed to continue working on the Kimang exploration enterprise. The firm plans to conduct geological studies to discover new kimberlite deposits 


"In accordance with the plan, we will be launching projects to develop these deposits in early 2019," Ivanov added. 


The president of ALROSA held a working meeting with Manuel Vicente, the Vice-President of the Republic of Angola. "ALROSA will continue to implement its projects in Angola. At present, we are conducting research on Luaxe, the largest diamond deposit in the country, and will determine the main stages of the further development of this project," – Ivanov concluded. 

 

Source: Rough-Polished
 

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