Saturday, December 16, 2017

Daughter Alrosa will receive 50.5% of the project Luashe in Angola, the parent company may acquire an additional 8%

Daughter Alrosa will receive 50.5% of the project Luashe in Angola, the parent company may acquire an additional 8%

The joint venture "ALROSA" and the Angolan state company Endiama - mining company (IAG) "Catoca" - will receive a stake of 50.5% in the new project "Luashe". It is reported by TASS correspondent from the signing ceremony of constituent documents on establishment of "Luashe" an international enterprise.

In the near future, "Alrosa" is also on the supervisory board will make the company's offer to acquire an additional 8% of the project Luashe directly, as well as plans to increase the share of "Catoca". Now the share of "Alrosa" in "Catoca" is 32.8%.

Resources situated at the concession portion Luashe kimberlite pipe Luele estimated at 465 million carats (450 million tons diamondiferous ore).

"Tube" Luele "is the largest found in the world over the past 60 years, since the discovery of deposits in Yakutia. "Alrosa", as an investor profile "Luashe" project, which has the appropriate professional competence to assume the obligations of design solutions and technical policy of the new society. The total commodity value of the deposit is estimated at more than 35 billion dollars ", - he told reporters the president of" Alrosa "Sergei Ivanov.

According to the president, Antonio Carlos sumbul Endiama, until recently, it remained unresolved question of financing Luashe. "But the signing of the agreement and the inclusion of" ice rink "as one of shareholders Luashe, as well as the involvement of VTB Bank will provide funding for cooperation with both domestic and with the international market, including the London center of investments", - he said.

"In recent years," Alrosa "with the support of the Russian government was in talks with the leadership of Angola and investors. As a result, agreements have been received on the signing of the mining investment agreement on conducting exploration and field appraisal, as well as the signing of the contract between the founders of the Society for the exploration and development of reserves "Luele" - said present at the signing ceremony, Deputy Prime Minister Yuri Trutnev.

Deputy Prime Minister stressed that in the field of diamond production cooperation, and, in particular, between the "Alrosa" and Endiama is an important part of Russia and Angola Economic Cooperation. He also noted that the development of new projects, active exploration and the search for new deposits positively affects the development of the Angolan economy and the partnership between the two countries.


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