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ALROSA

June 15, 2004

A dam on the Chicapa River in place!

On 10 June 2004near Saurimo, capital of the LundaSulProvincein Angola, an inauguration  ceremony for a new dam built on the ChicapaRiverwas held. This marked an important step in the construction by ALROSA of a new hydropower station in this African country.

 

Among the guests of honour there was Mr. Graciano Moachi Sengue, governor of Lunda Sul, Mr. Botelho de Vasconselos, Minister of Energy, Mr. Desiderio Costa, Minister of Oil, representatives of the National Energy Company of Angola (ENE), Angolan government and local administration officials, representatives of the Russian Embassy, ALROSA, Catoca Mining Co. Ltd., HIDROCHICAPA and ALROSA-Vneshstroy, Russian builders, local residents.

 

In his address Mr. Botelho de Vasconselos stressed that the construction of a hydropower station was seen as essential for the province and Angolaat large. The station would provide an impetus to the industrial development, serving for the benefit of both the diamond industry and the Angolan energy sector.

 

Mr. Graciano Moachi Sengue, governor of Lunda Sul, said, ‘the hydropower station on the Chicapa will make an important contribution to the social development of the province. I would like to extend my thanks to the Russian government and ALROSA who have provided financing for this project.’

 

According to the head of the ALROSA delegation Vladimir Rayevsky, chief coordinator of the company’s African projects, ‘Today a serious economic basis is being created to consolidate the relationship between our two countries. We are working on three large projects in Angola: the expansion of the Catoca diamond mining venture, development of the Luo consession, construction of a hydropower station on the ChicapaRiver. These are to be cornerstones in the foundation of our co-operation in the 21st century. The construction of the power station was made possible due to the participation of ALROSA. The first $ 5.5 million allowed to begin construction. Today the ALROSA President Vladimir Kalitin signed an order to allocate another $ 12 million to carry on with the project. The total of $ 23 million will be spent for this purpose in 2004.

 

Today Angola’s economy and social infrastructure are recovering after more than a decade of the civil war. Until now many of the country’s 18 provinces have been deprived of permanent sources of energy and water supply, with only small power generating units in use. The commissioning of HIDROCHICAPA scheduled for late 2005 will not only resolve the problem of permanent electricity supply for Catoca Ltd., Angola’s biggest diamond mining venture, but also provide the municipalityof Saurimowith water and electric lighting.

 

In a week’s time, having covered a distance of 1000 km from the Atlantic coast, the first convoy of Russian trucks and construction vehicles heading for the dam on the ChicapaRiveris expected to reach its destination in Lunda Sul.

 

FOR YOUR REFERENCE:

 Catoca Mining Co. Ltd. located in the Lunda Sul province of Angola was established on 16th September 1993 by ENDIAMA (Angola’s state-owned diamond company), ALROSA Co. Ltd. (Russian state-owned diamond miner), Daumonti Financing Company BV (Israeli private-owned company) and Odebrecht Mining Services Inc. (Brazilian private-owned company) for the purposes of geological exploration, diamond mining at the Catoca kimberlite deposit, diamond recovery and subsequent sales of the diamonds recovered.

 

2. Lunda Sul is the location of the Catoca Mining Co. Ltd, a joint venture with ALROSA.

 

The hydropower station under construction will have four power generating units of total 16 MW. The $ 45 million project will enable to enhance efficiency at the Catoca mine, complete its second stage and increase rough diamond sales to the total of $ 350 million p.a. The power station will also provide electricity for the development of the Luo concession comprising the Camatchia and Camagico kimberlite pipes.

 

Although Catoca is supposed to be the main energy consumer, the power station will also provide cheap electricity for the municipalityof Saurimoand help create new jobs there.

For the purposes of financing HIDROCHICAPA Co. was established, with a 55% of interest belonging to ALROSA. The contractor is a Russian specialized construction company ALROSA-Vneshstroy, a 100% ALROSA subsidiary.

 

 

 

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