ALROSA President Sergey Ivanov paid a working visit to the Republic of Angola, where he held meetings with Manuel Vicente, Vice President of Angola and Carlos Sumbula, Chairman of ENDIAMA E.P., National Diamond Company of Angola. During the meetings he discussed the development prospects of ongoing and potential projects within the country in which ALROSA has invested.

Ivanov inspected the company’s production facilities and some other projects.

During the meeting with Sumbula, Ivanov noted good financial results of Catoca Ltd. Mining Co. “Last year proceeds of the project reached almost USD 600 million and it became completely self-contained. We are ready to be fully engaged in its further development and expect the cost effectiveness to increase,” he said.

The two parties also agreed to continue operations of the Kimang exploration company and have also planned geological studies to discover new kimberlite deposits. “According to the plan, early in 2019 we will be launching projects to develop these deposits,” Ivanov added.

In his working meeting with the Vice President, Ivanov said, “ALROSA will continue implementing its projects in Angola. We are carrying out research on Luaxe, the largest diamond deposit in the country, and based on its results we will determine the main stages of further development of this project."