Alrosa secures stake in Angola's largest diamond deposit

Russian miner Alrosa has bought a stake in Angola's Luaxe diamond deposit, it said on Tuesday, providing the company with access to a production base outside Russia. Alrosa and Endiama, the National Diamond Company of Angola, have signed a contract to secure 50.5% of what is Angola's largest diamond deposit for Catoca, which is 32.8% owned by the Russian company. Alrosa will also receive 8% in Luaxe directly, it said.