Alrosa and De Beers Sign Memorandum of Understanding

ALROSA and De Beers pledged to examine opportunities for joint diamond exploration in Russia and other parts of the world, when they signed a Memorandum of Understanding on September 6. 2006

This historic agreement solidifies the 50-year old relationship between the two companies, which is said to have contributed to the development of economic relations between Russia and South Africa.

The two companies will operate in string compliance with all competition legislation requirements specifically referring to the recent decision by the European Commission regarding their trade agreement.

Also the companies are committed to social responsibility and environmental protection as they act to provide vital benefits to communities in remote and developing regions of the world. The companies also expressed their intention to work within the guidelines of the Kimberley Process and the De Beers Best Practice Principles, as well as to cooperate with international diamond industry organizations.