OREANDA-NEWS  ALROSA (MOEX: ALRS) and the Angolan government are negotiating a joint Katoka project, Russian Deputy Finance Minister Alexei Moiseev said. He noted that "there is definitely no aggression," but ALROSA, as a subsidiary company, has limitations "in terms of asset development" and this worries the Angolan side.

"We do have certain problematic issues in our relations with the Government of the Republic of Angola. But they are currently in the negotiation process, negotiations are actively underway there on how best to resolve these issues. Of course, this will not happen the way Western countries behave," Mr. Moiseev told reporters (quoted by TASS).

The Deputy minister noted that the essence of the negotiations is to ensure the "progressive development of local assets," which is hampered by sanctions. "Solutions are still being worked out," he added.

According to the Angolan publication Expansao, the republic is forcing the Russian diamond mining group to withdraw from the share capital of Sociedade Mineira de Catoca. In October 2023, ALROSA denied negotiations to leave Angola.

ALROSA owns 41% of the shares of the Katoka mining association, the world's fourth largest diamond deposit and production. In May, Sergei Ivanov, who at that time headed ALROSA, said in an interview with Kommersant that the company had no plans to leave Angola, despite "certain difficulties with banks."