A subsidiary of Oman’s sovereign wealth fund has replaced Russia’s Alrosa as a shareholder in Catoca, Angola’s state-controlled diamond mining company, marking a significant shift in the company’s ownership structure. The update was reflected on Catoca’s official website.
Endiama EP, Angola’s national diamond company, now holds 59% of Catoca, while Taadeen, the new shareholder linked to Oman’s sovereign fund, holds the remaining 41% stake—previously owned by Alrosa.
The move comes after mounting international pressure on Angola to end its partnership with sanctioned Russian firm Alrosa, the world’s largest producer of rough diamonds by volume.
The pressure began in 2022, following the imposition of Western sanctions on Alrosa in response to Russia’s role in the war in Ukraine.
The Angolan Ministry of Mineral Resources, Oil and Gas confirmed that the deal with the new shareholder was formalized on May 26.
In a statement last year, Angola acknowledged that Alrosa’s continued involvement in Catoca was harming “Angola’s credibility in the international diamond market”.
While the Oman Investment Authority has not yet commented on the acquisition, Alrosa confirmed its exit from the shareholding but did not provide further details.
