Angola’s Minister of Mineral Resources, Oil, and Gas, Diamantino Azevedo, stated on Wednesday last week that the government is in ongoing discussions with Russian diamond company Alrosa, a 41% shareholder in the Catoca diamond mine.
He emphasized Angola’s commitment to protecting national interests during these negotiations. Speaking at the 2nd International Diamond Conference in Saurimo, Azevedo explained, “Our focus is on Angola’s interests, and we have conveyed these priorities to Alrosa.”
Alrosa, facing sanctions due to Russia’s involvement in the Ukraine conflict, has encountered challenges in selling Angolan diamonds, with its stake in the Catoca mine — the largest open-pit mine in Angola and among the largest worldwide — at the center of current negotiations.
Azevedo acknowledged Alrosa’s historical significance to Angola’s diamond sector but reaffirmed that Angola’s interests come first. “It’s a matter of patience as we work towards a solution,” he added.
In recent months, the Angolan government has explored options for restructuring Catoca’s ownership, though no definitive solutions have emerged.
Last week, Russian Deputy Finance Minister Alexei Moiseyev noted that Alrosa is actively seeking a buyer for its Catoca stake, clarifying that potential buyers should not have connections with South African company De Beers, a major player in the rough diamond market similar to Alrosa.
Commenting on Angola’s approach, Azevedo said, “Our government’s mission is to protect national interests and engage with global partners who respect Angola’s goals and contribute to the sustainable growth of our diamond sector.”
Azevedo also addressed the sanctions-related impact on Russian diamonds and the G7’s mandate for African countries to send diamonds to Antwerp, Belgium, for certification.
He noted that Angola, alongside other African producers like Namibia and Botswana, expressed dissatisfaction with these measures, stressing the need for policies that respect African sovereignty.
“We are open to discussions, but we expect our concerns and interests to be acknowledged,” Azevedo affirmed.
On the topic of synthetic diamond competition, Azevedo highlighted Angola’s commitment to promoting natural diamonds responsibly, with an emphasis on environmental protection and transparency to enhance consumer appeal.
He clarified that while an expansion of the Saurimo diamond hub is not yet planned, Angola intends to develop a similar hub in Dundo, Lunda Norte, and establish a center for ornamental rocks in Namibe.
Azevedo underscored Angola’s stance against illegal mining practices that compromise human rights, particularly in semi-industrial diamond mining, where simpler tools are typically used.
He acknowledged recent market challenges, with low diamond prices impacting revenue projections. However, he assured that the government remains focused on achieving its economic goals for the sector.
The minister concluded by outlining the primary objectives of the diamond conference: to promote Angolan diamonds, attract investment, and enhance the diamond industry’s contribution to Angola’s economic and social development, ultimately benefiting local communities and improving citizens’ livelihoods.
