A few days before U.S. President Joe Biden’s visit to Angola, the country is pushing Russia to withdraw from its diamond mining operations, signaling support for U.S.-led sanctions against Moscow. In response, the Russian state-owned company Alrosa has sold its shares in Angola’s two main diamond mines.
Although Alrosa did not hold a majority stake in these mines, which allowed it to avoid direct sanctions on its diamond exports, Angola’s move to facilitate Alrosa’s exit aligns with its growing ties to the United States. The sale of Alrosa’s 41% stake in the Catoca mine to a consortium of Omani investors is seen as a diplomatic gesture ahead of Biden’s visit on Monday, December 2.
Alrosa has been under U.S. sanctions since the start of the war in Ukraine, and the European Union added the company to its sanctions list earlier this year. These measures disrupted the marketing of Angolan diamonds, as confirmed by Angola’s Minister of Mineral Resources and Oil, Diamantino Azevedo.
The Catoca mine, which produces six million carats annually, had been a key project for Alrosa since the 1990s.
Angola’s decision to distance itself from Russian involvement reflects its strategic shift towards closer cooperation with the United States, which is financing major infrastructure projects like the Lobito Corridor. This railway line is crucial for Angola’s ore exports and promises significant economic benefits for the country.