ALROSA Signs Deal For Stake in Angolan Diamond Deposit
Sergey Ivanov, ALROSA President, and Antonio Carlos Sumbula, President of Endiama, Angola's national diamond company, signed a deal to give the Russian miner a stake in the Luaxe diamond deposit. Ivanov said the mine has a value of more than $35 billion.
“The Luele pipe is the largest of all those discovered worldwide over the past 60 years since the discovery of deposits in Yakutia," Ivanov said. "As a specialized investor in the Luaxe project, ALROSA, which has relevant professional competence, will assume obligations for the new company’s project solutions and technical policy. The total commercial value of the deposit is assessed as over $35 billion."