Alrosa's President Fyodor Andreev holds talks with top Angolan officials on joint ventures

Alrosa President Fyodor Andreev discussed diamond project possibilities with state-owned diamond company Endiama at meetings he held with Angolan President José Eduardo dos Santos and Minister of Geology, Mining and Industry Francisco Queiróz in Luanda on Tuesday.

He also held meetings with the management of Endiama and Sociedade Mineira de Catoca, the largest diamond company in Angola, Alrosa said in a statement.

The parties discussed joint ventures between Alrosa and Endiama in exploration and prospecting in Angola.

Geological statistics from Alrosa's specialists in the African country proves there is a strong possibility of discovering large diamond deposits.

The sides also debated a plan to increase Angola’s rough diamond resources.

Ahead of the visit to Angola, Andreev held meetings in Moscow to discuss possible cooperation in geological exploration with Antonio Sumbula, Chairman of the Administrative Council of Endiama.

Geologists from Alrosa are to soon carry out initial work to evaluate areas that seem to have the potential for new primary diamond deposits.

The Alrosa and Angolan officials also debated the results produced by the projects currently run by Alrosa in Angola – Sociedade Mineira de Catoca and Gidroshikapa S.A.R.L. – and prospects for their further development.

Alrosa and Angola each have a 32.8-percent stake in the Catoca mine, run by Sociedade Mineira de Catoca, which produces and sells about 6.8 million carats of diamonds per annum.