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JSC "ALROSA" is to establish in Angola its second unitary company, mining diamonds worth up to $400 million per year. This was announced by German Kouznetsov, Vice-President of ALROSA. He mentioned that the management of ALROSA decided to establish its second, after its first "Catoca" unitary company in Angola, together in association with Portugal and the Government of Angola.

Alongside, the production rate of "Catoca" (est.1996), will be increased from $180 million, up $350 million in 2002, after the launch of additional company unit, as well as to carry our diamond mining in neighboring countries - Congo and Numbia.

According to Mr. Kouznetsov, "ALROSA", producing over 99 % of diamonds in Russia, intends to overcome De Beers $2,8 billion-$3 billion production levels. In 2002 "ALROSA" is expected to produce diamonds $1,6 billion, and by 2005 this level may well rise up to $2 billion.