ALROSA and Angola’s diamond management company Endiama, both of which are state-controlled enterprises, have signed a memorandum of understanding that among other things aims at cooperation in the search for new diamond deposits in Angola, the development of global diamond industry self-regulation mechanisms, the building up of responsible supply chains in support of the Kimberley Process and the promotion of diamond products in key markets.
Russian President Vladimir Putin and Angolan President João Lourenço were present when ALROSA Chief Executive Sergey Ivanov and Endiama Administrative Council Chairman Jose Ganga Junior signed the document.
The memorandum, which has a broad ambit, is aimed at strengthening economic, scientific and technological cooperation between ALROSA and Endiama. The document also provides for the promotion of technologies and knowledge transfer in mining and other activities, as well as cooperation on mechanisms in diamond sales.
ALROSA and Endiama will also jointly work on training Angolan specialists at ALROSA facilities, and exchanging technologies. Goals also include the financing of existing and future joint projects.
"For both Russia and Angola, the diamond industry is an important part of national life. This is not only about the place on the international arena or funding the budgets, but also jobs for people and dozens of social projects implemented for them,” said Ivanov.
ALROSA and Endiama share a long history of cooperation. The companies are co-founders of Catoca, Angola's largest diamond mining company. Catoca annually produces and sells about 6.8 million carats of diamonds. Its reserves are estimated at 120 million carats. In addition, ALROSA and Endiama have been conducting exploration in Angola as part of a joint venture since 2014.