|Sergey Ivanov, President of Russian mining company, Alrosa, reportedly visited the Republic of Angola to participate in the inauguration ceremony of the new President of Angola, João Lourenço, which was held on September 26th in Luanda, Angola.
Commenting on the event, Ivanov says, "In his inaugural speech, João Lourenço drew particular attention to the need to attract foreign investment to Angola, create conditions for the dynamic development of the country's economy. Our Company, which has been working in Angola for many years, welcomes these tendencies and is interested in further developing bilateral cooperation with our Angolan partners. We wish João Lourenço success in his new position and will do our best to strengthen the mutually beneficial economic ties between Russia and Angola."
During his visit to Angola, Ivanov also met with the head of Angola's national diamond mining company ENDIAMA E.P., Antonio Carlos Sumbula. They reportedly discussed measures aimed at the improvement of business performance and growth of financial results of the diamond exploration and mining company Catoca Ltd. Mining Co., in which Alrosa has a 32.8 percent share in the authorized capital. Alrosa reports that Ivanov and Sumbula also discussed the preparation of a feasibility study of the project for the joint development of the new diamond deposit, Luele, which they believe to be the largest of the kimberlite pipes discovered worldwide over the past 60 years.