ALROSA President Sergey Ivanov paid a working visit to the Republic of Angola.

Sergey Ivanov inspected the company’s production facilities and held a number of meetings with Angolan partners to discuss development prospects of ALROSA’s investment projects in Angola.

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

The parties also agreed to continue operations at Kimang exploration company. We 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,” added Mr. Ivanov.

ALROSA President held a working meeting with Manuel Vicente, Vice President of Angola. “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,” concluded Sergey Ivanov.