Alrosa negotiates exit from Katoka diamond mine

Alrosa is negotiating the sale of its stake in Sociedade Mineira de Catoca due to the deterrent effect of U.S. sanctions imposed on Russian diamonds from March 2022, combined with weakening diamond prices, sources told Africa Intelligence. Russian company owns 41% of Catoca's shares. State-owned Endiama holds a 41% stake, while China's Leviev International-LLI owns the remaining 18%.