Alrosa and Endiama Sign Exploration Agreement
June 21, 13
(IDEX Online News) – Alrosa and Angolan state-owned diamond mining company Endiama E.P. have signed an agreement on establishing a joint venture for prospecting and exploration of diamond deposits in Angola. 
The official signing ceremony took place in Luanda on June 20 at the conclusion of the first day of the Angola Centenary Diamond Conference organized by Endiama to celebrate 100 years since the discovery of diamonds in the country.
The joint venture document was signed by Endiama President Antonio Carlos Sumbula, and Alrosa President Fyodor Andreev.
“Alrosa has been a strategic partner of Endiama for many years," said Andreev. "Cooperation between Alrosa and Endiama is a successful 20-year story of development of the Catoca diamond mine which accounts for 6 percent of world diamond production.
"In addition to the success of existing operations we see further potential for our mutual cooperation in the years to come. We believe that huge geological upside is possible in Angola and the probability of new findings is high. Geological exploration in Angola is the part of Alrosa's long-term growth strategy."
The signing of the agreement follows work by Alrosa specialists to explore Angola's geological potential. Geological material produced by Alrosa's specialists in Angola shows there is a high probability of discovering large diamond deposits in the country, Endiama said in a statement.
Under the joint venture, diamond exploration will start at selected areas in 2014.