Angola ends partnership with Alrosa, welcomes new investor to boost diamond sector

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Luanda, Angola – The Angolan government has officially severed ties with Russian mining giant Alrosa, following international sanctions imposed due to Russia’s invasion of Ukraine. Alrosa, which previously held a 41% stake in Sociedade Mineira de Catoca—responsible for around 75% of Angola’s diamond production—has been replaced by Oman-based consortium Maaden International Investment.

The deal with Maaden is expected to bring an initial investment of $250 million to modernise Catoca’s operations, introduce advanced exploration technologies, and enhance sustainability.

The move aligns with Angola’s broader strategy to attract diversified international partners while strengthening its diamond industry, which generated over $1.6 billion in revenue in 2023.

In addition to bolstering Angola’s global market position, the transition aims to expand local diamond processing capabilities.

The government forecasts the creation of up to 3,000 new jobs over the next five years, both directly and indirectly, in line with efforts to boost economic growth and ensure greater transparency in the mining sector. By securing a reliable and forward-looking partner, Angola is positioning itself as a key player in the global diamond trade.