Angola Diamonds Not Under Sanctions But Russia Link Is Obstacle

Angola’s state-owned diamond producer said some clients were deterred by its partnership with Russia’s Alrosa PJSC, but underlined that its output doesn’t fall under western sanctions.

Russian diamond giant Alrosa holds a 41% stake in Angola’s Catoca operation, which also owns just over half of the Luele mine. The southern African nation’s Endiama Mining SA owns a majority of both the mines and has made management changes to shore up its control, according to Chief Executive Officer José Ganga Júnior.

“The diamonds we have in Angola are ours,” Ganga Júnior said in an interview in the country’s capital Luanda. ...