ALROSA Co. Ltd. will take part in the FILDA-2003 International Trade Fair in Angola.
On July 14-20 for the 20th time in the country’s history AIA (Angolan Industrial Association) and Expo-Angola will hold the FILDA-2003 International Trade Fair in Luanda(Angola). Hundreds of exhibitors from over 25 countries are expected to take part in this fair which is held on an annual basis.
The aggregate sales at the 2002 Fair amounted to $280 mln.
Considerable space at FILDA-2003 will be given to resource mining, primarily diamond mining companies present in Angola. As is generally known, the prospects of diamond mining in Angolaare remarkable. Some 800 kimberlite pipes have been discovered in this region since its geological exploration began. And only 5 of them have been explored thoroughly, including Catoca now under development by ALROSA.
At FILDA-2003 the Russian diamond producer will present the whole range of opportunities for technical and economical co-operation in Africait is ready to offer.
Today ALROSA is engaged in the construction of the second stage at Catoca. It is also working to establish a mining company for the commercial development of the Camatchia and Camagico pipes and begin the implementation of another construction project - of a hydroelectric power plant on the ChicapaRiver. These new joint projects will enable ALROSA to increase its current level of diamond production in Angolanearly two-fold and cut down production costs.
The establishment of ALROSA-Vneshstroy, a construction affiliate, and organization of maintenance and logistics for the company’s construction projects in Angolaare vital to further expand ALROSA’s activity in this country. For coordination of efforts ALROSA has established a new overseas branch ALROSA-Africa in Angolaon the basis of its representative office there.
As part of the program of The Day of ALROSA at the Fair scheduled on 15 July meetings of ALROSA representatives with government officials of the Republicof Angola, Angolan businessmen and industry leaders, as well as heads of foreign delegations are planned to take place. It will be possible for visitors to get acquainted with recent developments of the company in exploration, diamond mining and processing, construction of hydro-electric power facilities, large industrial and social buildings, personnel training for construction and diamond industries.
An invitation for ALROSA to participate in FILDA-2003 is a confirmation of Russia’s growing influence worldwide and improving confidence in Russian manufacturers.
Note:
ALROSA Co. Ltd.
ALROSAis a world’s major diamond producer accounting for about 25 per cent of the world diamond output. In 2002 it produced $1466 million worth of rough diamonds, its sales volume amounting to $1557 million, with $106 million from polished diamond sales. ALROSA’s production target for 2003 is $1560 million. The company’s biggest shareholders are the Russian Ministry of State Property (37%), and the Yakutian Ministry for the Management of State Property (32%).
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