Russian diamond miner ALROSA has dismissed the rumour that first appeared in an African news source about its plans to withdraw from a joint venture with Angola's Endiama.
"ALROSA does not conduct any negotiations on this matter," - the miner said.
Earlier this week, Africa Intelligence news agency quoted an unnamed source as saying that ALROSA and Endiama were in negotiations over the former's departure from the Sociedade Mineira de Catoca joint venture, citing the deterrent effect of western sanctions and the weakening of diamond prices as reasons for the decision.
ALROSA holds a 41% stake in Catoca. Endiama, a state-owned enterprise, possesses a 41% ownership interest in the mine, with Leviev International-LLI (China) holding the remaining 18%.
ALROSA, a significant contributor with a 27% share of the worldwide diamond industry, has been the principal diamond partner of Angola since the 1990s.
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
