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March 15, 2018

ALROSA Diamonds

ALROSA Diamonds

The ALROSA Diamonds company is one of the globes leading diamond miners.  Alrosa diamonds company has signed on to participate in developing a new diamond mine in the country of Angola.  Furthermore, this is a joint venture for both the Alrosa Diamonds company and the national diamond company Endiama.  The presidents of both Alrosa Diamonds company and Endiama met to discuss the project.  Spearheaded by Deputy Prime Minister of the Russian Federation Yury Trutnev, Alrosa Diamonds company president Sergey Ivanov, along with Antonio Carlos Sumbula od Endiama.

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Contract Signed with ALROSA Diamonds Company

Notable that a contract between the Alrosa Diamonds Company and Endiama is in effect.  The constituent documents on the creation of the Luaxe international enterprise.  This took place on May 23, 2017, in the Republic of Angola, Luanda.  In this agreement, the two companies signed a memorandum of understanding.  Additionally, the Luaxe international investment contract and notarial record of the establishment of the Luaxe enterprise.

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Russia and the ALROSA Diamonds Company

The cooperation in diamond mining between Alrosa Diamonds Company is tremendous explains Russian Deputy Prime Minister Yury Trutnev.  The focus was on the outline on how the two companies planned for diamond mining.  Furthermore, one should note that in particular between ALROSA and Endiama.  Additionally, this emphasized the key component of economic cooperation between Russia and Angola.  Also, the Russian Deputy Prime Minister notes that development of new projects, active exploration, and search for new deposits have a net positive impact on the economic advancement of Angola and partnership of two countries.

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Kimberlite Pipes and ALROSA Diamonds Company

The discovery of a new diamond mine was in 2013.  Also, it was found by the Alrsoa diamonds company.  This new kimberlite pipe name is Luele, and was found in the Luaxe concession area.  Additionally, this was in the scope of exploration operations carried out by ALROSA diamonds company in conjunction with native Angolan experts. Furthermore, Russian Deputy Prime Minister Yury Trutnev explains, “Over the past few years, ALROSA diamonds company, acting with the support of the Russian Government, has been engaged in negotiations with Angolan top management and investors. Consent to sign a mining investment agreement for exploration and assessment of the deposit, as well as for signing a contract between founders of a company for the development of Luele deposit was obtained as a result of negotiations,” said Yury Trutnev.

New Projects on the Horizon for ALROSA

A new project is also on the books for the ALROSA company.  Furthermore, it will be complete the project via Catoca mine.  In which it owns 32.8% of the area. Additionally, it will obtain a 50.5% share in the new structure once complete.  ALROSA will request to the Company Supervisory Board to purchase another 8% in Luaxe directly.  Also, ALROSA plans to add to its share in Catoca Ltd. Mining Company.

The development of the Luele mine is going to contribute to the economic success to both parties.  Once the scope of the project is complete, the size of the ore body and preliminary exploration data, suggest a profitable investment.  Alrosa executive Sergey Ivanov mentions that “Luele pipe is the largest of all those discovered worldwide over the past 60 years since the discovery of deposits in Yakutia. Likewise, as a special investor in Luaxe project, ALROSA, who has relevant professional competence, will assume obligations for the new company’s project solutions and technical policy.  Additionally, the total commercial value of the deposit accesses at over USD 35 billion.”

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