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Alrosa may leave Catoca project in Angola — Finance Ministry

Alrosa is working in Angola since 1992

MOSCOW, April 26. /TASS/. The Russian side has established the dialog with the government of Angola on the Catoca project and the parties are holding negotiations, Deputy Finance Minister Alexey Moiseev told reporters.

The Angolan side believes that Alrosa’s participation as a shareholder prevents it from developing the business because many market participants refuse to work with the company due to Russian diamond company's participation. "Different options are now considered but their essence, we see, that we will have to sell this asset," Moiseev said.

"There is fundamentally a normal meaningful talk there, friendly investors appeared there, with which it can be done in a way, you know, without litigation and various incidents," Moiseev noted. The deputy minister did not detail the potential timeframe for Alrosa’s exit from the project.

Alrosa is working in Angola since 1992. It holds 41% in Catoca mining holding.

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