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ALROSA

February 17, 2004

ALROSA CEO’s visit to South Africa is over

The working visit of ALROSA’s president Vladimir Kalitin and a group of the company’s top managers to De Beers’ operations in South Africa and Namibia is over.

They had an opportunity to see underground mining at the Finsch Mine in South Africa, De Beers Marine Namibia off-shore mining operations, miners’ settlements, working conditions, health and safety protection measures at mine sites. They also visited Kolmanscop, a historical mining town southeast of Luderitz, and the Elizabeth Bay Mine in Namibia.

The group also had meetings with the De Beers Chairman Nicky Oppenheimer and Managing Director Gary Ralfe. They also met top managers of De Beers mines in South Africa and Namibia: G. Beevers, Executive Director – Operations, H. Bredenhann, Director – Mining, R. Smart, Namdeb General Manager, O. Shikongo, Managing Director De Beers Marine Namibia.

The executives of the world’s two major diamond producers stressed their mutual interest in this form of co-operation. They also reviewed the results of exchanges between the two companies in mining and diamond processing and mapped the ways to further development of bilateral contacts which serve to improve production efficiency and increase rough diamond output.

Historical Reference:
The Russian diamond industry and De Beers have an almost 50 year-long history of mutually beneficial co-operation. The first contract to sell Soviet rough diamonds to De Beers was signed in 1959. Since 1960 regular sales of rough began on the basis of systematically renewed trade agreements.

With the establishment of in 1992 the Almazy Rossii-Sakha JSC a new stage in the relationship with De Beers began. The long-lasting business partnership has served to promote the stable development of global diamond market.

In December 2001 a new Trade Agreement, now under review at the European Comission, was signed.

ALROSA Co. Ltd. is one of the world’s major diamond producers accounting for some 25% of the global diamond output. Its major shareholders are the Ministry of State Property of the Russian Federation (37%) and the Ministry for Management of State Property of Yakutia.

 

 

 

 

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