On June 30 in Arkhangelskthe Arkhangelsk Regional Administration and ALROSA Co. Ltd. signed an Agreement on Social and Economic Co-operation. The signatories were Fyodor Andreev, the company’s First Vice President, for ALROSA, and Governor Anatoly Yefremov, for the Arkhangelsk Regional Administration.

The Agreement places major priority on joint efforts in geological exploration, mining and processing of minerals and development of the territory.

Among a few other issues an important role is also attached to financing regional socially oriented programs and conservation and land-reclamation in the areas where the company’s operations are located.

The regional authorities on their part have undertaken an obligation to create and maintain favorable tax and investment climate for enterprises engaged in the implementation of projects crucial for the regional infrastructure, as well as assist to establish and promote the company’s contacts with regional bodies.

The Agreement is viewed as a confirmation of ALROSA’s intentions of long-term presence in the Russian North West. It is also fully in line with the socially oriented policy proclaimed by the diamond company