Alrosa to appoint a subsidiary for African assets

Alrosa said that it plans to establish a fully-owned subsidiary which would manage all its asset operations in Africa. The decision comes as Alrosa intends to centralise all operations of its assets. The firm will be based in St. Petersburg although it would have branch offices in various African countries. The head office would manage Alrosa’s assets in Angola, collaborate with African diamond mining firms and develop new investments. Alrosa also plans to close its administrative offices in Belgium and Israel and hand over the functions to its retail subsidiaries in both countries.