N e w s

On Tuesday the delegation of Russian diamond mining company "ALROSA" is leaving for Angola with the aim to broaden the activity of the company and to add at least three more deposits to the "Katoka" deposit. The company itself is expected to become an open joint-stock company. These were the issues of the interview given by Vladimir Kalitin.

He mentioned as well that in Angola "ALROSA" was going to sign constituent documents on "Luo" project and to achieve the control over 51% of shares. The documents on diamonds deposits exploration may be signed. Besides, "ALROSA" intends to create a building company in the African country for the needs of the projects.

Vneshtorgbank (Bank for foreign trade) and a number of foreign banks are expected to finance this activity of the company. Angolan bank's participation is also possible.

The President decree on diamonds import - export will give some privileges to the company: it will be able to sell 15% of mined diamonds in the free market and will obtain five-years quota.

According to Vladimir Kalitin, the situation in the diamond market improves; prices have become stable.