https://newsletter.en.creamermedia.com
Diamonds|Gas|Oil And Gas|Resources
Diamonds|Gas|Oil And Gas|Resources
diamonds|gas|oil-and-gas|resources

Omani fund replaces Russia's Alrosa in Angolan diamond miner Catoca

Rough diamonds

Photo by Bloomberg

9th June 2025

By: Reuters

  

Font size: - +

A subsidiary of Oman's sovereign wealth fund has replaced sanctions-hit Russian firm Alrosa as a shareholder in Angola's state-controlled diamond miner Catoca, according to the shareholder structure on Catoca's website.

Angola had been under pressure to cease its long-standing partnership with the Russian state-controlled Alrosa, the world's largest producer of rough diamonds by volume, since 2022 when the West imposed sanctions on Alrosa for Moscow's role in the conflict in Ukraine.

Catoca's shareholder structure showed that Endiama EP, Angola's national diamond company, owns 59% of Catoca, with Taadeen holding the remaining 41%, which used to be held by Alrosa.

The Oman Investment Authority did not immediately respond to a request for comment. Alrosa confirmed that it had exited the shareholding but provided no further details.

Angola's Ministry of Mineral Resources, Oil and Gas, said the deal had been formalised on May 26.

In November, Angola said having sanctions-hit Alrosa as a shareholder in the Angolan diamond miner was affecting "Angola's credibility in the international diamond market".

Edited by Reuters

Comments

Showroom

Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 
Alcohol Breathalysers
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 06 June 2025
Magazine round up | 06 June 2025
6th June 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.127 0.22s - 184pq - 2rq
Subscribe Now