"ALROSA" will extract diamonds in South Africa, on the territory of De Beers

The Russian diamond monopolist of Alrosa announced the intention to start the production of South African diamonds. This is a serious blow to the positions of the South African De Beers, which has still hindered the exit of Alrosa to this market. Moreover, it turned out that the South Africa authorities are ready to contribute to the ratification of the corresponding agreement with the Alrosa in the local parliament.

The press service of the Diamond Company said that Alrosa is ready to consider projects in South Africa, which the day before, the President of Alrosa, Alexander Nichipruk and general director of the Department of Mineral Resources and Energy, South Africa Sandile’s Nogox, agreed on the eve of the day before. "We are ready to be managers in which representatives of the local population participated," Nichporuk said. South Africa, an obligatory element in the development of new mineral deposits by foreigners, is participation in such projects of companies created by the indigenous population.

The parties agreed to continue consultations, during which the forms of company participation in the Diamond industry of South Africa will be "specified." Kommersant believes that this will happen at the next meeting of the mixed intergovernmental committee on trade and economic cooperation between Russia and South Africa, in which Alrosa has been participating in October 2002.

The Russian side has already held all the necessary approvals of the draft bilateral agreement, which, according to the laws of South Africa, must ratify the local parliament. Until now, the ratification of this agreement has largely blocked De Beers, the power of which is concentrated specifically in South Africa.