Russia and Angola’s diamond dispute to be resolved

Augusto da Silva Cunha, Angola’s Ambassador to Russia revealed to Sputnik at the Eastern Economic Forum currently taking place in Russia’s Vladivostok, that Angola and Russia are in the process of eliminating the barriers that have affected Alrosa’s operations in the Southern African country.

“It is true that the sanctions imposed on Russia have affected Alrosa’s operations at the Catoca mine. But despite this, Angola and Russia are developing mechanisms to overcome the difficulties that have arisen,” he said.

In January, the Angolan government had insisted on the exit of Alrosa Catoca mining company, in light of international sanctions that affected the sale of diamonds mined by the company.

The Russian company in response insisted on protecting the investments it had made in the mine over the years while Angolan authorities, according to the publication, sought to avoid financial recompense.

In June, Russian Deputy Finance Minister Alexey Moiseyev made it clear Alrosa wished to transfer the Angolan asset to good hands and was actively working on the sale.

Russia’s Alrosa is the world’s largest diamond mining group. In 2023, the company’s diamond production was around 34.6 million carats.