Alrosa is set to divest its 41 percent stake in the Catoca diamond mine, located in Angola. The Angolan government has been urging Alrosa to unconditionally withdraw its involvement in Sociedade Mineira de Catoca, the operating company of the mine, due to the imposition of G7 sanctions. With a majority stake of 59 percent, the Angolan government aims to take full control of the mine. Concerns have been raised by Angolan officials regarding the reluctance of banks and external suppliers to engage with the mine due to its ties with Russia.
Russia's deputy finance minister, Alexei Moiseyev, acknowledged the validity of the Angolan concerns, stating, "The Angolans have legitimate reasons to believe that Alrosa's significant ownership inhibits their business development." He further noted the increasing hesitance among Western companies, including suppliers and buyers of diamonds, to collaborate with Catoca due to Alrosa's involvement.
