Oman Firm Replaces Sanctioned Alrosa in Angolan Diamond Miner
A mine workers stand inside an Alrosa underground diamond mine.
Photographer: BloombergThis article is for subscribers only.
An Omani state-backed fund has acquired shares in Angola’s Catoca diamond-mining joint venture from Russia’s Alrosa PJSC.
Maaden International Investment LLC’s stake purchase was announced by Mineral Resources Minister Diamantino Azevedo on Thursday. Alrosa, which held a 41% interest in the Catoca operation, has been sanctioned by the US, EU and their allies.