“The diamonds we have now in Angola are ours,” Ganga Júnior mentioned in an interview within the nation’s capital Luanda.
Nonetheless, Angola “often encounters difficulties” with purchasers in sure markets due to Alrosa’s stake within the mines, the CEO mentioned. Ganga Júnior declined to say whether or not Angola was underneath stress to oust Alrosa from Catoca. “Alrosa has no interference in Angola’s operations,” he mentioned.
Group of Seven nations agreed to ban Russian diamond imports from the beginning of this 12 months to curb the Kremlin’s capacity to fund its invasion of Ukraine. The ban initially lined all imports of tough diamonds instantly from Russia, however was prolonged from March to incorporate stones processed in third international locations. Alrosa can be sanctioned by the US and European Union.
To adjust to G-7 sanctions, Endiama should arrange a system to trace and establish the diamonds that originate in its mines, Ganga Júnior mentioned.
A diamond’s origin is obvious at first of the availability chain when it’s issued a certificates underneath the Kimberley Course of, which was designed to finish the sale of so-called blood diamonds that financed wars. However after that, the stones can develop into tough to trace.
Alrosa helped set up each the Catoca and Luele mines, and nonetheless receives income from each operations. Nonetheless, these funds are held in Angola and might’t at present be repatriated to Russia.
Russia mentioned earlier this 12 months that Alrosa could promote its Angolan pursuits as its companions imagine the funding is stopping Catoca’s growth, based on Interfax.
In Might, Angola’s Minerals and Petroleum Minister Diamantino Azevedo mentioned the nation’s long-time partnership with Alrosa had develop into “poisonous.”
Russia’s state-controlled Alrosa vies with Anglo American Plc’s De Beers because the world’s greatest diamond producer.
(By Candido Mendes)